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    The U.S. Dollar Ranged Higher Last Week

    Last Friday, as the currencies, directly linked with the major commodities, dropped the most, amid the factory data in China increased the fears over the demand for raw materials, the greenback ranged higher versus its main counterparts.

    As per the latest manufacturing data in China, the private sector slowed down, the most for the month of July, to a 15 month low.

    The Caixin/Markit purchasing managers’ index preliminary data for manufacturing dropped from 49.4 to 48.2, the weakest reading since 2014.

    The AUD/USD pair reached 0.7260, as the Australian currency declined for the sixth consecutive year, prior to settling thereafter at 0.7280. The NZD/USD also oscillated lower to 0.6575.

    Alternatively, the euro remained almost unchanged, as the EUR/USD currency pair stabilized at 1.0984, whilst the dollar dropped versus the yen, and the USD/JPY pair reached the 123.80 level.

    Furthermore, with the expectations that the central bank in the U.S. could raise rates, increasing the most, the dollar escalated to higher zones.

    Moreover, on Thursday, the U.S. will be publishing its initial forecasts for the second quarter’s growth. On Friday, the euro zone shall release the unemployment rate and consumer inflation data, whilst investors and traders will be watching over the progress of Greece’s bailout negotiations.

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