US DOLLAR STRUGGLES TO ATTRACT INVESTORS AS MOOD REMAINS UPBEAT

The US Dollar (USD) started the new week under bearish pressure as easing fears over a global financial crisis allowed investors to move toward risk-sensitive assets. After having closed the previous two weeks in negative territory, the US Dollar Index continued to push lower and broke below 103.00. Renewed expectations about the US Federal Reserve (Fed) pausing its tightening cycle at the upcoming meeting also put additional weight on the USD shoulders. On Friday, the US Bureau of Economic Analysis will publish the Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred gauge of inflation. PCE inflation figures could significantly impact the USD performance against its major rivals.