The Dollar Index remains under heavy pressure, slipping below 108.00 and testing the critical 107.00 level.
New Home Sales in December beat estimates, rising to 698,000 units versus expectations of 670,000.
President Trump's tariff threats on Colombia imports and Wednesday's Federal Reserve decision add uncertainty to the Dollar's trajectory.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, continues to slide on Monday, breaking below the psychological 108.00 mark. Concerns over AI-related market valuation, combined with geopolitical tensions from President Donald Trump's tariff threats against Colombia, contribute to bearish sentiment. Economic data highlights some resilience in the United States (US) economy, but the Dollar remains under pressure ahead of the Federal Reserve's (Fed) Wednesday decision on interest rates.
US Dollar under pressure amid Fed anticipation and geopolitical tension.
The Chicago Fed National Activity Index for December rebounded to 0.15 from -0.01 in November, reflecting stronger economic activity.
December New Home Sales surged to 698,000 units, surpassing the forecast of 670,000 and November's 674,000 figure.
President Trump's proposal to impose 50% tariffs on Colombian imports over deportation disputes rattles trade markets and global sentiment.
Markets will look for further clues on the incoming president's plans on tariffs on its North American neighbors.
Federal Reserve's Wednesday meeting looms large; markets are watching closely for updates on rate decisions and economic outlook with a hold priced in.
Both the statement and Chair Jerome Powell's tone will be closely looked upon by the markets.(Cay) Newsmaker23
Source: Fxstreet
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