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Tuesday, January 16thThe EUR/USD pair was consolidating its positions during Asia in the region of its 3-year highs, marked at 1.2297 spot on Monday, in wake of minor attempts of the US dollar to recover its positions across the market. The latest downside rally of the US dollar could be mainly explained by recent market trend, based on speculations regarding potential convergence between monetary policies of the Fed and major central banks. Adding to this, seems that the market is still digesting potential change of forward guidance, which was mentioned in the ECB minutes last week, that supports the euro across the market lately. Looking ahead, today the economic calendar won’t offer investors anything important, leaving the pair at the mercy of broad market trend during this trading session.
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