US Dollar Weakness Driven by Positioning Before CPI, Says BNY
The US Dollar has been the weakest G10 currency on BNY's iFlow metrics, as markets scale back aggressive Fed bets ahead of the upcoming consumer price index report.
EURUSD
Wee Khoon Chong of BNY reports that the US Dollar has underperformed all G10 peers according to the firm's iFlow data.
The greenback's softness is attributed to position adjustment, with traders paring back expectations regarding the Federal Reserve's next policy move before the CPI release.
BNY's iFlow metrics track cross-border flows and positioning, suggesting near-term dollar sentiment has turned cautious.
Source: FXStreet Forex News