GBP/USD climbs to a fresh session high of 1.2869
The dollar is slipping further on the session now as we see the likes of EUR/USD approach 1.1730 and USD/JPY fall to a low of 107.25. Adding to that, cable is also extending gains to fresh highs on the session of 1.2869.

Gold hits an all-time high, silver is surging, the dollar is sinking across the board, and Bitcoin is back above $10,000
Meanwhile, the bond market continues to send ominous signals with 10-year Treasury yields hovering close to the lower bound of its recent range near 0.54% to 0.56%.

Forex news from the European trading session – 27 July 2020
Headlines:
Markets:
– JPY leads, CHF lags on the day
– European equities mixed; E-minis up 0.4%

A total of 145 new cases were reported today, of which 142 are from locally transmitted infections
here

EUR/USD is on the hunt for a seventh straight day of gains
Dollar weakness is part of the story driving the upside momentum, but the euro itself has been on a solid run this month as the single currency is also benefiting from the calmer mood in the euro area bond market on the fiscal response

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The latest virus news
Overall, the US continues to report a slowing in case growth at a high level. The next few weeks before schools return are a critical time to get new infections dramatically lower.

Trade of the week from Mitsubishi UFG
Analysts at MUFG recommend selling USD/JPY at spot with a target of 1036.80 and a stop at 107.60.
„The USD/JPY rate has fallen sharply today and we see scope for that extending over the coming weeks,“ they wrote on Friday. „The FOMC meeting next week is also likely to be

Hanna was upgraded from a tropical storm to a hurricane on Saturday by the US National Hurricane Center.
The most recent update has it pushing west from the Gulf towards the Texas coast

Another reason to sell the US dollar
There is no set date for the Treasury’s FX manipulation report but it is due out soon and analysts at JPMorgan says it may contain a message for the Swiss.