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Dollar eases as oil and gold rise and traders await US jobless claims
The US Dollar Index was last around 101.1, while traders positioned ahead of Thursday's US Initial Jobless Claims forecast to rise to 212K from 208K.
The US dollar traded slightly lower on Wednesday, with the US Dollar Index (DXY) slipping toward 101.1 as markets stayed cautious amid rising concerns tied to Iran and the Strait of Hormuz, according to FXStreet.
The backdrop of fragile risk sentiment helped support a move higher in oil and precious metals, while investors also weighed an upcoming slate of data and central bank signals, including Thursday’s US Initial Jobless Claims.
In major currency pairs, FXStreet said EUR/USD pushed toward the 1.1410 area as the greenback lost modest ground, while GBP/USD remained marginally lower near 1.3380 ahead of the UK’s GfK Consumer Confidence report.
FXStreet also noted USD/JPY was steady around 163.15, with oil prices posing a challenge for Japan while geopolitical uncertainty supported the dollar, and AUD/USD drifted lower toward 0.6995 ahead of Australia’s June labor-market report.
Latest closeGold $4,117.00 ▲1.1%|EUR/USD 1.141 ▼0.0%|USD/JPY 162.90 ▲0.3%