USD recovers vs majors, profit-taking hits gold amid European session
The US dollar has pared early losses and stabilized near unchanged levels across major pairs during European morning trade. After starting the session on a weaker note, the greenback found support and recovered against EUR/USD, GBP/USD, and other majors. The recovery coincides with light profit-taking in precious metals markets, where gold has pulled back from recent highs near $2,750/oz after its parabolic rally. Market participants appear to be consolidating positions ahead of key economic data releases later this week. Technical indicators suggest the dollar index (DXY) is finding support near the 107.50 level, with resistance at 108.20. The modest recovery reflects cautious sentiment as traders await clearer directional catalysts. Near-term dollar movements will likely depend on upcoming US economic data and any shifts in Federal Reserve policy expectations.
Related Symbols:
EURUSD
GBPUSD
XAUUSD
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