Little Optimism In G20 Meeting Causes Dollar To Drop – 4 July, 2019

The high likelihood of an interest rate cut in July caused the dollar to dip today, but the ball is still in the air as investors await the G20 summit talk in Japan between the U.S. and China. A weaker dollar has resulted in the euro driving on a steady track for its biggest monthly gains in 17 months, with onlookers awaiting the results of the talk in hopes that a truce between the world leaders will be met. Against the yen, the dollar was little changed at 107.77 yen, on track for a 3% gain as the dollar recovers from a five month low against the Japanese currency when it fell to 106.77 yen on Tuesday. Against a basket of six major peers, the dollar index was last standing broadly unchanged at 96.110.