GDP Report on Tap - Will USD Weakness Continue?

The U.S. Dollar traded weakly in yesterday’s session as it witnessed depreciation against all of its currency rivals. Plunging toward the critical levels of 1.4000 against the EUR and 1.6000 against the GBP, the greenback’s recent weakness doesn’t appear to have an end in sight for today. With an expectant worry that today’s data releases will put investor focus on America’s increase in debt issuance, thus resulting in a higher Treasury yield; the market may continue to go bearish on the USD. As expected, higher yielding assets and currencies like the EUR and GBP ...