The US Dollar (USD) navigated a narrow range on Thursday, building on the previous day’s losses and briefly reaching multi-day troughs.
In the meantime, geopolitical tensions continued to do the rounds, while investors seemed to have largely ignored the cautious tone from the FOMC Minutes on Wednesday
Here is what you need to know on Friday, July 10: The US Dollar Index (DXY) had kept the bearish tone for the second straight day on Thursday, although it managed to bounce off earlier lows and dispute the 101.00 region afterwards. Next on tap on the USD docket will be the release of the always relevant inflation figures tracked by the CPI on July 14. EUR/USD has clinched its second consecutive daily advance on Thursday, although gains appear to have met a tough nut to crack around 1.1450.
Final inflation data in Germany are due alongside the speech by the ECB’s Vujcic. GBP/USD could not sustain the early move to three-week tops around 1.3430, coming under pressure and challenging once again the 1.3400 neighbourhood. The next event across the Channel will be the publication of the BRC Retail Sales Monitor on July 14.