Germany Industrial Production

The U.S. dollar moved higher as traders tracked sharp pressure across European bond markets and prepared for FOMC Minutes. EUR/USD and GBP/USD weakened, USD/CAD gained as precious metals fell, and USD/JPY stayed pinned near a key resistance zone.

The American currency strengthened as traders reacted to vessel damage in the Strait of Hormuz and a rally across oil markets. Major currency pairs moved around key technical levels, with EUR/USD and GBP/USD under pressure while USD/CAD and USD/JPY remained near important support and resistance zones.