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The U.S. dollar ticked up prior the release of the economic figures scheduled for the week

By Rana Gharib
03 Jan,2023
The U.S. dollar ticked up prior the release of the economic figures scheduled for the week

The greenback staged a big rally on Tuesday before the release of the economic figures that is scheduled this week.

The dollar index that gauges the U.S. dollar versus its major pairs, jumped 1% at 104.345.

Markets are awaiting today the release of the U.S. manufacturing PMI figures for December with projections to remain shrunk.

Attention is also geared towards Fed's minutes that is scheduled to release on Wednesday to assess the rate direction in 2023.

USD/JPY slumped 0.1% to 130.69, the Japanese yen touched its highest level in 7 months after BOJ threw its bon-yield surprise earlier in December. BOJ is quite expected to hike its inflation projections this month.

EUR/USD slipped 0.9% to 1.0566, before the release of the key German inflation figures, with predictions to drop by 9.1% for its annual inflation for December from the earlier month at 10.0%.

GBP/USD plunged by 0.8% at1.1951, before the release of manufacturing PMI figures for December that is expected to stay in the retreated zone.

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