The US Dollar trades mildly in the green after China fixes its Yuan at the lowest level since November.
Markets gear up for two data-packed days in the US.
The US Dollar index trades broadly sideways, keeping its head above 105.00.
The US Dollar (USD) trades mildly in the green on Thursday, advancing against most major peers with exceptions such as the Japanese Yen (JPY) and the Swiss Franc (CHF) when it was trading ahead of its Swiss National Bank (SNB) rate decision which triggered a reversal now . The Greenback appears to be supported by the broad risk-off market mood, with traders concerned as the People’s Bank of China (PBoC) has set the Yuan’s reference rate at 7.1192 against the US Dollar, its weakest level since November.
On the US economic data front, the schedule resumes after the brief hiatus due to the Juneteenth public holiday. Per usual on Thursday, the weekly Jobless Claims will be on the forefront after numbers started to tick up last week. The Philadelphia Fed Manufacturing Survey will be the second focal point.
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