ForexLive European FX news wrap: Dollar ramps higher as post-election run continues | Forexlive

Headlines:

Markets:

• USD leads, CHF lags on the day
• European equities higher; S&P 500 futures up 0.1%
• US 10-year yields down 0.6 bps to 4.445%
• Gold down 0.7% to $2,555.08
• WTI crude up 0.4% to $68.71
• Bitcoin up 3.1% to $91,434

The dollar is ramping higher in European trading today as the post-election momentum continues to ride out into the week.

The changes were light in Asia with only USD/JPY briefly brushing up against the 156.00 mark. But as we got into European trading, the greenback flexed its muscles and is looking to carry that to US trading later.

EUR/USD briefly dipped below key technical support at 1.0500 but is still down 0.3% to 1.0530 currently. Meanwhile, USD/JPY pushed back up to just above 156.00 and is holding thereabouts now.

Besides that, GBP/USD fell to 1.2630 in a push to its lowest level since July while AUD/USD is down 0.3% to 0.6465 and poised for its lowest daily close since April.

In the equities space, European indices are seen rebounding a little while US futures are holding mild gains. The post-election euphoria has been relatively limited in that sense for stocks. That said, Europe and China will face a more challenging outlook amid Trump tariffs going into next year.

Elsewhere, gold is slumping further as it pushes down to $2,555 while Bitcoin is looking to keep up its post-election surge as it takes another peek above $90,000 on the day.