US Dollar Hit by Soft Durable Goods, PCE Data
The dollar weakened after US durable goods orders dropped 4.5% month-on-month in May and the PCE index rose 0.4%, missing expectations.
DXY
The US dollar came under pressure following the release of disappointing macroeconomic data.
Durable goods orders fell 4.5% month-on-month in May, while the personal consumption expenditure (PCE) index increased 0.4% month-on-month, falling short of consensus forecasts.
The combination of weaker orders and a softer inflation reading raised doubts about the Federal Reserve's rate path, prompting a sell-off in the greenback.
Source: FXStreet Forex News