Still Bleeding! USD Try to Treat the Wound

thecekodok

 The US dollar, the king of currencies, continues to hover around 2-month lows even though the decline recorded has stopped.


At the opening of the European session, the dollar index traded little changed at 101.60 against a group of major currencies.


Disappointing data in JOLTs, US job openings added pressure on the greenback for broad selling on Tuesday.


Investors' focus is now focused on the publication of private sector ADP employment data and US ISM services in the New York session.


Meanwhile, the kiwi dollar is trying to defend its gains following the Reserve Bank of New Zealand's (RBNZ) surprise decision in its latest policy meeting.



The RBNZ unexpectedly raised interest rates by 50 basis points to 5.25%, missing expectations for a 25 basis point increase.


Meanwhile, the Aussie dollar retreated from gains against the greenback, seeing it trade bleakly around 0.6710.


The euro remained stable at a 2-month high, trading little changed at 1.0950 against the US dollar.


In addition, the pound continued to strengthen at around the 10-month high of 1.2485 against the greenback.


On the other hand, the Canadian dollar was a little shaky, retreating from its strongest level in 2 months against the US dollar.

Tags