The U.S. dollar is currently testing multi-week highs against various major currencies. Let’s take a closer look at the analysis for EUR/USD, GBP/USD, USD/CAD, and USD/JPY.
The EUR/USD pair is showing signs of weakness as the U.S. dollar gains strength. The pair is currently trading near a multi-week low, with the dollar continuing to outperform the euro.
GBP/USD is also facing pressure as the U.S. dollar remains strong. The pair is struggling to maintain its position as the dollar continues to rise.
USD/CAD is experiencing a different trend, with the U.S. dollar gaining ground against the Canadian dollar. The pair is currently trading at multi-week highs, indicating a bullish trend for the USD/CAD pair.
USD/JPY is also seeing an uptick in the U.S. dollar’s strength. The pair is trading near multi-week highs, with the dollar showing resilience against the Japanese yen.
Overall, the U.S. dollar is performing well against major currencies, with multi-week highs being tested across various pairs. Traders should continue to monitor these trends closely for potential trading opportunities.