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Dollar slips below 99.50 as FX traders eye US and Europe data
EUR/USD rebounded above 1.1600, while USD/JPY fell back toward 159.50 ahead of multiple manufacturing and inflation releases.
FXStreet said the US Dollar Index, or DXY, started the week on the back foot, slipping below 99.50 as US Treasury yields showed mixed performance and geopolitical concerns remained in focus.
The outlet pointed to an upcoming calendar heavy on economic releases, including US ISM Manufacturing PMI, JOLTS job openings, and final S&P Global Manufacturing PMI, alongside euro zone preliminary inflation and Germany retail sales.
EUR/USD, according to FXStreet, recovered to above 1.1600 amid fresh selling interest that weighed on the dollar. GBP/USD also reversed prior pullbacks, moving back toward the 1.3550 to 1.3560 area.
FXStreet added that USD/JPY faced renewed downside pressure after pausing a multi-day rise, returning to around 159.50 after an early move above 160.00. It also noted WTI held near six-day highs close to $87.00 per barrel and gold briefly dipped below $4,400 per troy ounce before trying to stabilize.
Latest closeGold $4,504.10 ▼2.3%|WTI crude $83.44 ▼0.1%|EUR/USD 1.159 ▼0.6%