USD gains peaked at 0.4% ahead of yesterday’s North American session, falling through the remainder of the day to close just 0.15% higher.

The USD is tracking a little lower overall in the session so far. Like previous sessions, however, the core majors are more or less flat on the day, with relatively bigger moves coming from the MXN and ZAR, which are rebounding from recent election wobbles.

After gains of 0.23% ahead of the North American session yesterday, the USD closed 0.15% lower following Powell’s panel commentary, which leaned dovish.

The US Dollar started out strong today before falling flat, with the bond market fretting over former US President Donald Trump’s spending plans.

A quiet day in the currency markets yesterday saw the USD fall 0.25%, marking its third consecutive daily loss, continuing to grind lower overnight ahead of today’s nonfarm payrolls (NFP) data.

Jerome Powell, Chairman of the US Federal Reserve, will deliver the Semi-Annual Monetary Policy Report and testify before the Senate Banking Committee today.

Weaker US data and lingering tensions in the Middle East fueled haven-related buying in FX markets yesterday, sending the USD (+0.3% from 2-week lows) and CHF higher.

The USD surged to levels last seen on July 5th yesterday amid month-end flows but subsequently lost momentum, closing with a marginal gain.

Yesterday’s US CPI data came in below forecast, with the headline reading receding by 0.1% in June, contrary to expectations of a 0.1% gain.

The USD rose 0.2% yesterday, reaching nearly two-week highs amid hedging flows ahead of U.S. tech earnings.