The Greenback extended its promising start to the week and kept the risk complex under pressure on Tuesday as market participants continued to evaluate political jitters in Europe and pre-FOMC cautiousness started to kick in.
Here is what you need to know on Wednesday, June 12: The USD Index extended its march north of the 105.00 barrier ahead of key data releases. On June 12, the US Inflation Rate will take centre stage seconded by the FOMC meeting and the press conference by Chief J. Powell. EUR/USD remained well on the downside and reached new multi-week lows near 1.0720 amidst Dollar’s gains and persistent political concerns.
GDP figures will be at the centre of the debate on the UK docket on June 12, followed by Construction Output, Balance of Trade, Industrial and Manufacturing Production and the NIESR Monthly GDP Tracker. USD/JPY maintained its bullish stance past the 157.00 barrier on the back of gains in the Dollar and despite declining US and Japanese yields. Producer Prices are due in Japan on June 12. AUD/USD managed to bounce off daily lows in the 0.6590-0.
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