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- The US Dollar is back flirting with a break lower.
- Traders are going into risk-on mode with German and EU PMI numbers improving.
- The US Dollar Index faces pressure on the 103-handle again.
The US Dollar (USD) slides lower against most major peers on Wednesday as markets send it lower. The initial moves came with German and European Purchasing Manager Indexes (PMIs), which in nearly all sectors showed improvement (though remaining in contraction territory). A further contraction in US PMI numbers later this afternoon could mean a meltdown for the Greenback.
On the economic front, as already mentioned in the above paragraph, US PMI numbers are set to be released this afternoon. The Manufacturing number will be especially significant (it is expected to…
