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fxJun 23, 2026, 8:49 AM

USD Strengthens on Hawkish Fed, EU PMI Data Awaited

The US dollar continued to rise on expectations of a hawkish Federal Reserve. Market focus shifts to preliminary European PMI figures for June, which could provide support for the euro if they show improved economic activity.

EURUSD

The US dollar extended its recent gains, buoyed by expectations that the Federal Reserve will maintain a hawkish monetary policy stance. This sentiment has driven USD buying pressure across major currency pairs.

Attention now turns to the release of preliminary June PMI readings for the euro area. An improvement in economic activity data could offer some support for the euro, potentially halting the greenback's advance. Traders will also monitor any Fed commentary for further policy clues.

Source: FXStreet Forex News