US Dollar tumbles further on Trump jitters

Pablo Piovano FXStreet

The greenback – tracked by the US Dollar Index (DXY) – continues to give ground on Wednesday, breaking below 97.80 amidst Trump woes.

US Dollar in 6-month lows

The index has retreated to levels last seen in early November, fully retracing the post-US elections rally and trading in red figures for the fifth session in a row.

The Trump-FBI dispute brought in fresh USD-sellers and dragged the index further south of the key support at 98.00 the figure, prompting market participants to wonder whether a fresh bearish trend has just emerged around the buck.

In the meantime, the likeliness of further tightening by the Federal Reserve at its June meeting seems to have been eclipsed so far by headlines involving President Trump and the possibility of his impeachment, all against the backdrop of declining US yields and the continuation of the sell off in USD.

On the data front, the usual weekly report of the DoE on US crude oil inventories is only due later today.

US Dollar relevant level

The index is losing 0.29% at 97.82 and a break below 96.94 (low Nov.4 2016) would open the door to 95.91 (low Nov.9 2016) and then 94.95 (low Sep.22 2016). On the upside, the next hurdle lines up at 98.96 (20-day sma) ahead of 99.20 (200-day sma/12-month resistance line) and finally 99.77 (high May 11).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD stays positive near 1.3450 after UK jobs data

GBP/USD recovers ground and tests 1.3450 in early Europe on Tuesday. The UK ILO Unemployment Rate remained at 4.9% in the three months to May, compared with expectations of 5%, but fails to provide any impetus to the British Pound's renewed uptick. Traders stay cautious amid US-Iran uncertainty and the UK political transition.

EUR/USD steadies above 1.1400, awaits German ZEW Survey

EUR/USD is consolidating above the 1.1400 mark in European trading on Tuesday. The pair lacks any directional impetus amid a subdued US Dollar price action and ahead of the German ZEW Survey.

Gold: Acceptance above 21-day SMA at $4,065 is critical for buyers

Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third straight day on Tuesday. XAU/USD is capitalizing on the ongoing pullback in Oil prices from monthly highs near $84.50. The black gold is retreating for a second day in a row on emerging signs of diplomatic efforts to ease the US-Iran conflict.

Shiba Inu price extends gains as on-chain and derivatives metrics confirm bullish bias

Shiba Inu extends gains, trading above $0.0000042 after breaking above the descending trendline the previous day. Strengthening on-chain data and improving derivatives metrics support further gains for the meme coin. CryptoQuant’s exchange netflow chart below shows five consecutive days of net outflows since July 17.

Brent nears a critical crossroads as the global economy faces one too

Markets spent last Friday digesting a Reuters report that Iran has told the Houthis to stand ready to close Bab el-Mandeb if the US strikes Iranian power infrastructure — missiles and drones are reportedly already positioned near the strait, awaiting the order from IRGC officers in Yemen.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.