The US Dollar Index (DXY), which measures the strength of the US Dollar (USD) against a basket of major currencies, remains under pressure at the start of the week, trading below the 98.00 level on Monday.
Fresh geopolitical risks have emerged after US President Donald Trump's announcement of tariff threats against the European Union (EU) and Mexico over the weekend.
At the same time, reports that President Trump is pressuring Federal Reserve (Fed) Chair Jerome Powell to resign have reignited concerns about the central bank's independence, a factor that may influence investor confidence and US Dollar sentiment in the coming weeks.
On Tuesday, the June Consumer Price Index (CPI) will be released, providing an updated look at US inflation. Whether the data indicates that inflationary pressures persist or ease, it will likely have a significant impact on Federal Reserve policy expectations and, by extension, on the DXY's trajectory.
Meanwhile, several major US financial institutions will kick off the second-quarter earnings season, with JPMorgan Chase, Citigroup, Wells Fargo, and BlackRock all set to report. These results could offer important insights into the health of the US financial system, a key driver of risk sentiment.
Source: Fxstreet
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