The Greenback traded on the back foot this week, managing to reclaim the 105.00 barrier and above when measured by the USD Index (DXY), although eventually giving away all those gains in response to the lack of any surprise from PCE data.
The Greenback traded on the back foot this week, managing to reclaim the 105.00 barrier and above when measured by the USD Index , although eventually giving away all those gains in response to the lack of any surprise from PCE data. The US Dollar seems to have now entered a consolidative phase, always amidst alternating speculation regarding the timing of the interest rate cut by the Fed , somewhat rising yields and persevering prudence from Fed officials.
On June 6 comes the salient event in the region with the ECB interest rate decision, followed by President Lagarde’s press conference and Retail Sales in the region. Germany’s Balance of Trade and another revision of Q1 GDP Growth Rate in the Euroland will close the week on June 7. GBP/USD could not extend its recovery past the 1.2800 hurdle, ending the week with marginal losses in the low 1.2700s.
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