The US dollar holds steady near 99 58, supported by robust retail sales and hawkish stances from the Federal Reserve. These factors help offset the potential impact of the ECB’s anticipated rate cut. As a result, the directionality of GBP USD and EUR USD appears to be under pressure amid the current market conditions.

This data highlights the intricate relationship between economic indicators and currency performance. As traders navigate these factors, the influence of upcoming central bank policies will play a crucial role in shaping the USD’s future performance. Strong retail figures indicate resilience in the US economy, supporting the dollar against its major counterparts.

In summary, ongoing volatility may arise as traders adjust their positions in response to these developments. Investors should keep a close eye on economic news and central bank responses as they plan their trading strategies.