Forex Today: US Dollar Hits Multi-Year Lows Ahead of US Economic Data

Forex Today: US Dollar Slides to Multi-Year Lows as Traders Eye Key US Data

The US Dollar (USD) continues to weaken on Thursday, June 26, as investors anticipate key economic data releases. The US Dollar Index (DXY) has dropped below 97.50, hitting its lowest level since March 2022. Pressure on the Dollar remains elevated amid political uncertainty and growing expectations of Federal Reserve rate cuts.

Eyes on US Mid-Tier Economic Data

Traders are now focusing on several mid-tier data releases that could offer fresh clues on the US economic outlook:

• May Durable Goods Orders
• Pending Home Sales
• Weekly Initial Jobless Claims

These figures will provide insight into consumer and business activity in the US economy, which is currently facing uncertainty due to policy tension at the Fed and weak inflation momentum.

Market Awaits Central Bank Speeches

Speeches from global central bank policymakers—including those from the Federal Reserve, ECB, and BoE—will also shape investor sentiment throughout the day. Any dovish or hawkish tones could drive volatility in the currency markets, especially for major USD pairs.

Summary Outlook

The USD remains fragile as traders respond to political risks, rate cut speculation, and macroeconomic uncertainty. Today’s data and central bank commentary will be pivotal for short-term direction in the forex market.

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