The dollar held firm on Tuesday, shrugging off selling pressure from a move higher in equities, as investors seemed to temper their bearish bets against the greenback ahead of a Thursday speech from U.S. Federal Reserve Chair Jerome Powell. The dollar, which often falls when stocks rise as investors seek out riskier currencies, had inched higher overnight -repelling the Australian dollar back under 72 U.S. cents and pushing the euro below $1.18.
The market is still within a downturn from last week’s selloffs. The GBPUSD market posture is negative showing a new low for today ⇒ 1.3030 - 1.2990. A close over 1.3217 (SAR) is needed to
secure a short term reversing / bottoming turn.