The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat near 99.20 at the time of writing on Wednesday after an earlier attempt to test the 100.00 big figure in early Asian trading.
The pop in the DXY came on the back of comments from United States (US) President Donald Trump late Tuesday, saying that he had no intention of firing Federal Reserve (Fed) Chair Jerome Powell, despite being frustrated with the high interest rates.
The President also said he would be ‘nice' to China if they come to the negotiating table, offering an olive branch by promising tariffs on China would be much lower than they are now, Bloomberg reports.
On the economic calendar front, all eyes are on the S&P Global preliminary Purchasing Managers' Index (PMI) numbers for April. Traders already got a flavor with the European PMI data compiled by S&P Global and Hamburg Commercial Bank (HCOB) released earlier in the day.
The mean theme in European core countries is that Services in Germany, France and the Eurozone as a whole fell into contraction and missed expectations across the board.
Source: FXStreet
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