The US dollar (DXY) looks set to test highs last seen in December 2002 as risk markets continue to crumble. Get your market update from nickcawley1 here:
The latest US PCE data are released at 13:30 UK today and are expected to show that US price pressures eased a fraction in May on a year-on-year basis. The monthly core figure is expected to move 0.1% higher to 0.4%. A full report including market reactions to these numbers will be posted on the DailyFX homepage shortly after these numbers are released.
The short-term market downturn in the US dollar was broken with ease at the start of the week and the move higher continues today. The DXY is now less than 50 pips away from making a fresh 20-year high as risk-averse traders default back to the greenback. The PCE data will help to define the short-term move but with risk markets seemingly stuck in a bear trend, the US dollar looks set to print fresh two-decade highs in the coming weeks.
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