He DXY remains stable after four consecutive days of decline. The EUR/USD is trading lower on the day, and the USD/JPY is trading higher just below 161, BBH FX analysts note.
Relative history should continue to support the USD
“The DXY is holding steady near 104.96 after four consecutive days of declines. The Euro (EUR) is trading lower near $1.0829 against the US Dollar (USD) but has recovered from the initial post-election sell-off (see below), while the British Pound is holding steady near $1.2825. The USD/JPY is trading higher just below 161 following mixed wage data.”
“The recent weakness in data is challenging our view that the backdrop of persistent inflation and robust growth in the US remains largely in place. However, we note that weaker data in many major economies underscores the fact that the relative story should remain supportive of the USD.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
