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Dollar muted; eyes are on on Fed officials and the debt ceiling bill's development

By Rana Gharib
01 Jun,2023
Dollar muted; eyes are on on Fed officials and the debt ceiling bill's development

The greenback traded flat on Thursday hovering close the highest level in two months as traders analyzed developments in the U.S. debt ceiling bill, remarks from a number of Fed speakers, and statistics on Chinese manufacturing growth.

The dollar index that gauges the greenback versus its major pairs muted at 104.240 inched below the highest level touched in two months in the earlier session.

After the U.S. House of Representatives approved a measure to postpone the debt ceiling late Wednesday, the safe-haven dollar has likewise retreated from its recent highs.

EUR/USD slid 0.1% to 1.0680 post the German retail sales ticked up by 0.8% month over month in April, improving from the 2.4% decline the previous month but still representing a 4.3% annual decline.

GBP/USD dipped to 1.2439 following the released data from the Nationwide Building Society showed that home prices dropped 3.4% annually in May, continuing their downward trend.

USD/JPY advanced by rose 0.3% to 139.75.

 

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