USD slips amid data lull – BBH

The US dollar remains on the back foot after slipping during a quiet session, with markets awaiting fresh direction from upcoming regional Fed surveys and scheduled Fed speak—though no policy signals are expected ahead of the blackout period, BBH FX analysts report.

USD to find near-term support this week

"USD is struggling to recover after drifting down during yesterday’s quiet data session. S&P500 hit a new high yesterday. Treasury yields are consolidating across the curve near the middle of a ten-week range."

"Second-tier US economic data are due today: The July Philadelphia Fed non-manufacturing and Richmond Fed business surveys. Also, Fed Chair Jay Powell and Fed Vice Chair for Supervision Michelle Bowman are scheduled to speak. The Fed’s blackout period, which runs until the July 30 policy decision, rules-out any meaningful policy commentary."

"We expect USD to find near-term support this week, but the year-to-date USD downtrend is intact. See here for details."