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US Dollar Soft After Retail Sales Miss Expectations

The US dollar opened sharply higher against a range of other most-traded currencies today on the back of risk aversion. Currently, though, the greenback is weak due to retail sales missing expectations and geopolitical tensions.

Euro Declines on Negative Market Sentiment, Rallies on Weak US Dollar

The euro today initially fell drastically in the Asian session as concerns regarding the risk of emerging markets contagion triggered a selloff in riskier currencies including the euro. However, the single currency mounted a recovery from the early European session as market fears dissipated and the US dollar retreated from previous highs.

Pound Rallies Higher on Risk-On Sentiment and Weak US Dollar

The British pound today rallied higher against the US dollar in a move that was largely fueled by the greenback’s decline following yesterday’s geopolitical events. The trade deal announced between the US and Mexico triggered a risk-on sentiment across the global financial markets, which triggered a significant selloff of the US dollar boosting the pound.

Euro Rallies Higher on Positive German GDP Data and Weak US Data

The euro today rallied higher against the US dollar following the release of mixed data from Germany led by the positive German Q2 GDP data. The EUR/USD currency pair posted more gains following the release of weak data from the US docket in the early American session.

Euro Trades at 13-Month Lows on High Market Volatility

The euro today traded at 13-month lows as it was driven lower by market volatility in emerging markets led by Turkey resulting in a strong US dollar. The EUR/USD currency pair traded lower due to the selloff in emerging market currencies, which increased the demand for the greenback at the expense of its peers including the euro.

Euro Rallies on Risk-On Sentiment, Later Declines on US Retail Sales

The euro today rallied higher amid calm global financial markets, which encouraged a risk-on mood among investors boosting the single currency. However, the euro gave up some of its gains against the US dollar following the release of mixed US retail sales data in the early American session.

US Dollar Rises as Trump Avoids Harshest Measures on China

The US dollar today rallied higher against its main trading partners as news emerged that President Donald Trump‘s administration would not be pursuing the harshest measures against China. Several positive releases from the US docket such as the advance goods trade balance also served to strengthen the greenback in the early American session.

British Pound Trades Lower Despite In Line UK GDP Data

The British pound today declined against the US dollar despite the release of the second estimate UK GDP data for Q1 2018, which met expectations. The Sterling pound was on a downtrend against the greenback from the Asian session, but rallied slightly following the GDP report before heading lower.

British Pound Hits New Lows on Lackluster UK Inflation Data

The British pound was on a downtrend against the US dollar from the start of today’s session largely boosted by a risk-off sentiment in the markets. The downtrend was further accelerated by the release of the UK Consumer Price Index data for April, which missed expectations, dragging the pound much lower.

EUR/USD Hits New 2018 Lows Despite Positive Eurozone CPI Data

The EUR/USD currency pair today hit fresh 2018 lows in the mid-European session despite the release of mostly positive Eurozone CPI data. The currency pair had a muted reaction to the European Central Bank President Mario Draghi’s speech in Frankfurt today, but headed lower triggered by the stronger US dollar.

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