This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Continued Woes Weigh On the Greenback

The US index closed below 92 on Wednesday as sentiment remains negative over the contraction of the US economy.

The ADP missed expectations on the number of private-sector jobs in the US. The figure of 167,000 was far from analysts’ expectations of a 1.6 mln rise.

The recent gains made by the US dollar over the yen did not last as we witness a negative close for the third day in a row. The safe-haven asset has been a key focus amidst the current weakness in the dollar.

The AUDUSD rallied to an 18-month high as the pair was also buoyed by the weakened greenback.

Europe Attempts to Get Back to Normal

The euro once again outperformed the greenback yesterday, closing 0.55% higher.

Eurozone retail sales reverted back to pre-COVID levels as more restrictions have been lifted.

This has added pressure over an uncertain US dollar as a slow but steady bloc attempts to get back on its feet.

Pound Remains Cautious After BoE Decision

The pound closed 0.38...

To keep reading this article, please navigate to: Orbex Forex Trading Blog.