FX markets

Daily Market View 10-02-2026

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1:27

Euro Rally Pushes to Fresh Highs Amid Strong Demand

1 Minute Market Rundown

Euro rallies up towards $1.20 against the Dollar and up to a January high against the Pound.
Pound rallies against Dollar in early hours trading as PM seems set to cling onto position.
Big day tomorrow and US Non-Farm Payrolls set to release.

EUR-

Despite the general lack of major releases out of the Eurozone, the Euro continues to trickle upwards as the Dollar suffers a continued drain in sentiment and the Pound is only just recovering from the recent political crisis.

Options pricing shows that insurance against a stronger Euro have reached recent highs, suggesting the rally could have legs yet.

Screenshot 2026-02-10 080049

It's less about the fundamentals and more about the sentiment this time around, with Chinese authorities demanding banks and pension funds to shed US Treasury holdings and the Pound busy tearing itself apart over the political concern.

There are some getting ahead of themselves, concerned that a further push in EURUSD up to $1.25 could trigger an intervention to weaken the Euro so as to avoid damage to exports. We have a long way there yet.

Markets Today

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