The US Dollar Index (DXY) exchanges hands at 102.80, recording mild losses.
Incoming data continues to influence easing cycle expectations with June as a potential start. Despite US CPI data intensifying, investor foresight accords more with frail labor market figures. Retail Sales and weekly Jobless Claims figures will dictate the pace of the USD for the rest of the week. The US Dollar Index exchanges hands at 102.80, recording mild losses.
In addition, the Index is trading below the 20, 100, and 200-day Simple Moving Averages , confirming bearish sentiment in the market. To add to that, the 20-day SMA performed a bearish cross with the 100 and 200-day averages at 103.70, which adds an argument to the negative outlook for the USD.
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