Ever since US President Donald Trump's 'Liberation Day' tariffs were introduced in early April, the FX narrative has really focused on what damage these tariffs would do to the US economy and the dollar.
Brent crude has formed a higher low near $63, breaking above its 50-DMA and signaling fading downside momentum. With MACD turning constructive, a test of the $68.70 pivot high is in sight—clearing it could open the door toward $71.30–72.00.
The EUR/JPY cross weakens to near 164.85, snapping the two-day winning streak during the early European session on Monday. The Japanese Yen (JPY) strengthens against the Euro (EUR) amid the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates.