Dollar Drops Following ADP Data

U.S. Dollar Firms On Deficit Concerns

The U.S. dollar was higher against its most major counterparts in the New York session on Thursday, as treasury yields soared amid concerns about the fiscal impact of President Donald Trump's tax bill.

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Euro Weakens After German Composite PMI Falls

The euro weakened against other major currencies in the European session on Thursday, following the release of Germany's composite output index for May.

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Euro Falls Against Majors

The euro weakened against other major currencies in the Asian session on Thursday.

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Antipodean Currencies Fall, Yen Gains Amid Risk-off Sentiment

The Antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Thursday on increased risk-off sentiment, following the broadly negative cues from Wall Street overnight, amid rising treasury yields on concerns about the fiscal impact of a new U.S. tax bill on the country's deficit. The lack of clear progress on new trade deals is also weighing on the markets.

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Pound Advances After U.K. Inflation Data

The pound was higher against its major counterparts in the New York session on Wednesday, after data showing an acceleration in consumer price inflation in the month of April.

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U.S. Dollar Falls Amid Risk-on Mood, Fed Rate Cut Bet

The U.S. dollar weakened against other major currencies in the Asian session on Wednesday amid increased risk-on mood, as some traders are still looking to cash in on the strong upside in the markets seen over the past several weeks. Furthermore, growing market acceptance that the Federal Reserve (Fed) will lower interest rates further this year amid evidence of diminishing inflationary pressure and a dismal growth forecast, also pushed the USD lower.

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