The dollar weakened during New York trading, with EUR/USD moving back into the $1.16 range while the 100-day moving average held. Meanwhile, EUR/JPY also moved back from the 184-yen range into the 185-yen range.
As the dollar weakened during New York trading, EUR/USD moved back into the $1.16 range, with the euro attempting a short-term recovery despite facing resistance on the upside. Although it at times fell below the 200-day moving average, the 100-day moving average held near $1.1570.
EUR/JPY at times fell into the 184-yen range, but then moved back to the mid-185-yen range. It has been suggested that developments in Europe could affect the euro, in tandem with moves in USD/JPY.
As geopolitical tensions and energy prices in Europe again attract attention, some view natural gas inventories as important ahead of winter. There have also been suggestions that continued supply constraints could affect the euro.
The options market remains skewed toward a stronger euro, and some believe that continued constraints on natural gas supplies could test this positioning. Levels for EUR/USD, EUR/JPY and EUR/GBP are shown.