The Greenback maintained its constructive start to the week and lifted the USD Index (DXY) further north of 105.00 as investors digested Powell’s prudent first testimony and maintained their attention on upcoming Fedspeak and key US data.
The Greenback maintained its constructive start to the week and lifted the USD Index further north of 105.00 as investors digested Powell’s prudent first testimony and maintained their attention on upcoming Fed speak and key US data. Here is what you need to know on Wednesday, July 10: The USD Index rose past the 105.00 hurdle and flirted with the interim 55-day SMA amidst a decent uptick in US yields. The second semi-annual testimony by Chair J.
On July 10, the BoE’s Pill is due to speak. Extra recovery in the US Dollar and the move higher in yields underpinned the daily uptick in USD/JPY to three-day highs near 161.50. Producer Prices will be in the spotlight on July 10 in Japan. AUD/USD managed to overcome the Dollar’s bounce and advanced marginally, keeping the trade well above 0.6700 the figure.
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