It's all about the greenback again

The dollar is catching another wave of bids again in European trading - as it did yesterday - and that is sending EUR/USD lower back towards a test of the 1.1600 handle. Yesterday's low touched 1.1602.

The greenback is bid across the board with GBP/USD also falling to a low of 1.3030 and USD/JPY is also at the highs trading at 112.97.

Looking at EUR/USD, bids are seen at the figure level and there is a decent-sized expiry seen there as well. That will provide some form of support for the time being but if the dollar index moves towards a test of the 95.53 handle, expect the 1.1600 level to give way with further support next seen @ 1.1589.

USD/CAD is also testing the 1.3200 handle now, with AUD/USD and NZD/USD trading near session lows too.