FXstreet.com (Córdoba) - The US dollar is consolidating its recent losses against most major and EM currencies, with currencies trading in narrow ranges, notes the BBH team. "The euro declined for a third straight session and we expect further selling pressure to continue in the coming days", they say. "Near-term support for the single currency is seen near $1.2200".
According to BBH, the worse than expected UK June government borrowing figures is helping pressure sterling lower, while the US dollar is slightly firmer against the Canadian dollar ahead of today's June inflation report.
"Most global shares are paring back their recent gains but are still trading in narrow ranges. The MSCI Asia Pacific index declined 0.7%, while the EuroStoxx 600 is down 0.4%", they say. "Corn prices are still rising amid supply concerns".
According to BBH, the worse than expected UK June government borrowing figures is helping pressure sterling lower, while the US dollar is slightly firmer against the Canadian dollar ahead of today's June inflation report.
"Most global shares are paring back their recent gains but are still trading in narrow ranges. The MSCI Asia Pacific index declined 0.7%, while the EuroStoxx 600 is down 0.4%", they say. "Corn prices are still rising amid supply concerns".
