Traders pare USD positions before key inflation data and Fed Chair remarks, keeping the currency near multi-week lows.
The US Dollar Index (DXY) remains below 99.00 as investors reduce exposure ahead of Wednesday’s economic releases and Federal Reserve Chair Kevin Warsh’s Jackson Hole address. The greenback shows modest weakness, staying near recent lows amid Treasury bond-buyback pressures and cautious sentiment.
EUR/USD holds near 1.1675, supported by stronger-than-expected German GDP and IFO business surveys. GBP/USD trades close to a six-month high, just below 1.3650, bolstered by persistent UK inflation and robust business data. USD/JPY edges higher above 159.00, while AUD/USD stabilizes in the low-0.7100s ahead of Australian CPI figures.
Gold slips toward $4,650 per troy ounce as Middle East tensions ease, while WTI crude extends losses, dropping over 3% to near $82.00 after the US declared the Strait of Hormuz mine-free.