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On Tuesday, the dollar experienced mixed results against major currencies, failing to sustain its rebound despite better-than-expected U.S. retail sales data.
On Monday, the dollar rose modestly against other major currencies, rebounding from multi-month lows. Investors navigated a complex landscape of political and monetary policy factors following a weekend assassination attempt on former President Donald Trump.
On Friday, the U.S. dollar fell broadly as market sentiment was dominated by the anticipation of Federal Reserve rate cuts. This sentiment solidified after an unexpectedly soft Consumer Price Index (CPI) report earlier in the week, which was not significantly shaken by strong producer price inflation data.
The dollar weakened against major currencies on Thursday after an unexpected fall in the U.S. Consumer Price Index (CPI).
Following Fed Chair Jerome Powell's congressional testimony, market sentiment remained cautiously optimistic.
On Tuesday, the dollar strengthened against most major currencies following Federal Reserve Chair Jerome Powell's congressional testimony.
On Monday, the USD index experienced little movement during the North American session, primarily due to the absence of significant U.S. economic data.
This week, traders are gearing up for Federal Reserve Chair Jerome Powell's semi-annual Congressional testimony.
In the UK, the Labour Party's sweeping victory, with Rishi Sunak conceding defeat, has brought a sense of stability to the markets.
On Wednesday, the US dollar fell against most major currencies, with the exception of the yen, following a series of unexpectedly weak US economic data.