Has the US Dollar sell-off stopped?

Image Credit: Google 14/07/2024

The US Dollar suffered heavy losses against its major rivals on Thursday after the June 2024 inflation data.

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The USD bounced back in the US session after falling to its weakest level in more than a month near USD 104.00.

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The USD then entered a consolidation phase yesterday around Friday morning around USD 104.50.

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Annual inflation in the U.S. softened to 3% in June from 3.3% in May, according to the U.S. Bureau of Labor Statistics.

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The EUR/USD sharply tested 1.0900 during US trading hours on 12 July.

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The GBP/USD hit a one-year high near 1.2950 on Thursday. And the pair rose above 1.2900 on the following day in the European morning on Friday.

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USD/JPY fell sharply after the US inflation data and on Friday morning, USD/JPY was stable above 159.00.

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XAU/USD declined early on Friday, July 13 but remained above $2,400.

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France issues warning list of 50 forex and crypto firms

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