The US dollar extended its decline into the European session as market focus is now focused on the publication of US personal consumption expenditure (PCE) inflation data tonight.
Against major currencies, the US dollar remained resilient amid mixed signals from Federal Reserve (Fed) policymakers and lackluster economic data.
The dollar index traded 0.1% lower around 91.70 at the start of the European session.
Inflation data to be released during the New York session will provide the latest indications on the extent to which bullish pressure will push the Fed to start acting after the signal given last week.
Antipodean currencies, gained by posting modest gains, particularly the New Zealand dollar which showed the strongest performance against the US dollar.
The Aussie dollar also rose, ignoring less than pleasant news about the Australian -Chinese dispute. Beijing responded to Canberra’s actions by bringing their trade issues to the World Trade Organization (WTO).
Meanwhile, the pound continued to trade gloomily following the dovish decision of the Bank of England (BOE) policy meeting which kept its monetary policy unchanged.
