U.S. inflation data came in line with expectations whereupon the dollar gave up some of its gains. However, the greenback had a rather mixed day while it ended yesterday’s trading day virtually unchanged against the euro and British pound.
Generally speaking, it seems that many market participants refrain from taking any larger positions now amidst the liquidity drain during the summer months. Therefore, we recommend to trade at a low risk or stay at the sidelines as long as risk events are lacking.
The Fed will deliver its monetary policy report to Congress today at 15:00 UTC.
We wish you a wonderful weekend.
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