DXY extends losses towards 93.00
Selling pressure picked up near 93.70 on Wednesday.
Attention turns to Initial Claims, Producer Prices on the US economic calendar
The US Dollar Index (DXY), which measures the US Dollar against a basket of major currencies, extends losses testing 93.00 on Thursday.
US data in focus
After running out of steam at the 93.65/70 band on Wednesday, DXY started to correct, moving southwards meeting support around 93.00 in the latter part of the week.
After several sessions of gains the US Dollar saw strong resistance around 93.70, the monthly peak, following comments from ECB officials which boosted risk appetite on Wednesday.
Looking ahead weekly Claims and Producer Prices (Aug) will be in focus. Investors will also be watching ECB monetary policy meeting closely. No changes to the interest rates are expected., where consensus has practically ruled out any modification of the benchmark rates.
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