USD Is Mostly Firmer Ahead Of Jobs Report For Which The Market Is On Notice For Downside Risks

2025-07-03 07:10:00 ET

Overview

The US dollar is firm. The only G10 currency that is stronger today is sterling, which is recovering from yesterday's sharp losses and the UK's drama eased following Prime Minister Starmer's support for Chancellor Reeves. Of note most of the final June PMI readings were revised higher from the initial estimates. The US struck a trade agreement with Vietnam, the third deal reached, and the clear intent is to deter it from re-exporting Chinese goods. Meanwhile, the US also lifted export requirement for chip design software sales to China, which would seem to imply that the administration is satisfied with the resumption of rare earth and magnet shipment to the US....

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