Forex Today: US Dollar selloff continues on improving risk mood – by eren_fxstreet Majors Currencies Commodities Macroeconomics CryptoCurrencies
The US Dollar started the week on a bullish note but came under selling pressure in the American session to close in the day in negative territory on Monday. The USD continues to weaken against its rivals amid improving risk sentiment early Tuesday, with the US Dollar Index falling to its lowest level in two months below 102.00. ZEW survey for the Eurozone and Germany will be featured in the European economic docket ahead of NFIB Business Optimism and IBD/TIPP Economic Optimism data from the US.
Following a mixed opening on Monday, Wall Street's main indexes registered modest daily gains. In the European morning, US stock index futures are up between 0.2% and 0.3%. Meanwhile, the 10-year US Treasury bond yield is already down nearly 1% on the day below 4%. The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation dropped to the lowest level since April 2021 at 3.8% in June from 4.1% in May.climbed to its strongest level since early May above 1.1000 on Tuesday. The data from Germany showed that the annualrose above 1.2900 for the first time since April 2022 on Tuesday.
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