- The index adds to Monday’s losses near 99.70.
- US yields keep the directionless mood on Tuesday.
- Retail Sales, Industrial Production next on tap.
The USD Index (DXY), which tracks the greenback vs. a bundle of its rival currencies, trades with modest losses in the 99.80/70 band ahead of the opening bell in Euroland on turnaround Tuesday.
USD Index now looks to data
The index sheds ground for the second session in a row and extends the pessimism seen at the beginning of the week below the psychological 100.00 threshold.
Indeed, the greenback remains under heavy pressure and trades close to recent 15-month lows near the 99.50 region, as investors continue to favour the risk-associated universe amidst steady speculation that the Federal Reserve might be nearing the end of its tightening campaign.
On the latter, however, the Federal Reserve is largely anticipated to raise rates by another 25 bps at the July 26 meeting, while further tightening beyond July appears unclear for the time being
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