USD Begins Week on Strong Bullish Trend Ahead of PMI Data

usd pmi

US Dollar stays strong against its major rivals to start the week.

The currency started the new week on a bullish note after outperforming its major rivals the previous week. The US Dollar Index, which tracks the USD’s valuation against a basket of six major currencies, touched its highest level since July 12, near 101.50 in the early European session.

The USD captured capital outflows out of the Euro and Pound Sterling after the Services and Manufacturing PMI data from Germany, the EU and the UK came in weaker than expected for early July.

US Services and Manufacturing PMI surveys could drive USD’s valuation later today.

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