The US dollar today remained weak against its main peers such as the British pound and the euro during the European session. The release of the positive core personal consumption expenditure and the US ISM employment data boosted the greenback slightly during the North American session.
The US dollar declined against the euro on Friday, following a report that showed that the rate of economic growth in the United States failed to impress investors. The greenback fell harder against its Canadian counterpart as gross domestic product of the United States’ northern neighbor grew faster than expected.
The US dollar today rallied against its main peers such as the euro and the Japanese yen after the release of positive US durable goods orders by the Census Bureau. The buying interest in the US dollar seems to have increased overnight, despite the FOMC maintaining interest rates at their current levels during yesterday’s meeting.
The US dollar edged higher against the euro on Wednesday, ahead of the latest statement from the Federal Open Market Committee, which is expected to contain a decision to keep rates unchanged. Traders appear to have ignored a disappointing number for new home sales in June in anticipation for remarks from the monetary policy committee relating to interest rates in the near future.
The US dollar today rallied briefly against its peers after the release of positive US consumer confidence data by the Conference Board. The US dollar rallied briefly against the euro, which saw the single currency decline against the greenback from 52-week highs recorded earlier today.
The US dollar edged higher against a basket of major currencies on Monday ahead of the Federal Reserve’s monetary policy meeting that starts tomorrow. The greenback was able to maintain today’s gain even after a report revealed disappointing existing home sales in June.
The US dollar climbed against a basket of other major currencies on Wednesday, following the release of strong housing data that improved the short term outlook. The greenback still remained near its weakest level since the third quarter of last year after suffering from sharp losses over the past two weeks.
The EUR/USD currency pair today rallied to new yearly highs based on US dollar weakness triggered by the failure of Donald Trump‘s administration to repeal Obamacare. The currency pair rallied higher on news that two more Republican senators had defected and would not support the US Senate’s attempt to repeal and replace the Affordable Care Act (ACA).
The US dollar ended the week as the weakest major currency after Federal Reserve Chairwoman Janet Yellen made dovish comments, making speculators pare bets on an additional interest rate hike this year.
The US dollar today weakened against its main peers as key macro data released from the US docket disappointed. The US retail sales data, the CPI and the University of Michigan consumer sentiment index all missed their respective market consensus figures, which put the greenback under renewed selling pressure.
