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US Data Weakens USD Rally – Video Analysis

Market Analysis

US Data Weakens USD Rally – The dollar fell following the personal income, consumption and chain price figures, which were generally light of expectations. EURUSD rallied to four-session highs of 1.1828, up from under 1.1810, as USDJPY slipped to 112.29 from over 112.55. Sterling has been the biggest mover out of the main currencies, presently showing an average 0.4% decline versus the G3 currencies. The selling spark was an unexpected revision lower in UK annual GDP growth, to 1.7% from 1.5%, in the third and final release of the data for Q2. This was added to by Brexit related news.

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Stuart Cowell

Senior Market Analyst

HotForex

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