*U.S. DOLLAR HOVERS NEAR 15-MONTH LOW AS INVESTORS SEE END TO FED RATE HIKES IN SIGHT $USD 🇺🇸🇺🇸
data, due later in the day, for more clues on the health of the world’s largest economy, and the potential path of interest rates.
The retail sales reading for June is expected to have improved from the prior month, while industrial production growth is also expected to accelerate in June, pointing to some resilience in the U.S. economy. That said, it’s debatable whether these numbers will change market sentiment given last week’s tepid consumer and“Last week’s U.S. disinflation shock altered the FX landscape, but a few days without key data releases will tell us whether that impulse can keep the dollar on the back foot as the FOMC risk event draws nearer,” said analysts at ING, in a note.
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