XE Market Analysis: North America – Jul 11, 2019

The Dollar posted fresh lows against most of the main currencies as Fed Chairman Powell’s testimony yesterday, where he signalled a 25 bp rate cut with the caveat that the Fed has the tools needed and could use them “aggressively” if necessary, continued to resonate. The narrow trade-weighted USD index (DXY) extended to a six-day low at 96.87, while EUR-USD rose to a six-day high at 1.1280 and USD-JPY posted a six-day low at 107.86. The U.S. currency saw a similar similar magnitude of decline against other currencies before settling above lows.

Source: XE news feed
XE Market Analysis: North America – Jul 11, 2019