U.S. dollar could continue rally if it remains above 109.435

The U.S. dollar continues to dominate the major currencies in this week's performance up by 1.09% also reaching 109.485 against the Yen during the European/U.S. session before retreating to 109.155. The U.S. dollar surged from 108.715 to 109.485 following the breaking news that the U.S. and China have agreed to lift tariffs whilst continuing the trade deal negotiations. The U.S. dollar still hanging on to the overnight gains but will need push through 109.435 to proceed to the upside. A drop in prices below 109.225 could see a pullback to 108.970