The US dollar continues its losses

Another day of dollar selling as the US dollar fell for the third day in a row, while US Treasury bond yields remain high, keeping investors on edge as they monitor possible developments in US trade agreements and worry about the financial situation of the US economy.

Moody's downgrade of the US sovereign debt rating on Friday may have had a limited impact on the markets, but it reinforced the narrative that confidence in US assets as safe havens is declining.

President Donald Trump also failed to convince the Republicans who rejected his comprehensive tax bill, according to forecasts, Trump's new tax bill will add between 3 and 5 trillion dollars to the country's debt.

The Japanese yen and the Swiss franc were the biggest beneficiaries of the decline of the US dollar as safe haven currencies.

EURUSD

The EURUSD pair rose today, reaching two-week highs despite the rise in US Treasury yields during Asian trading hours.

Rising US Treasury bond yields usually support the dollar, especially against the yen, but this correlation began to weaken over the past month, as US President Donald Trump's erratic trade maneuvers turned global markets upside down and shook investors ' confidence in US assets.

GBPUSD

The GBP / USD pair also rose on Tuesday to its highest levels in 3 weeks, especially with the breakthrough of the downward price channel as we mentioned in the weekly analysis video here

During European trading hours, British inflation data for April, which may affect the Bank of England's monetary policy, will also be highlighted to gauge cost pressures in the wake of positive British GDP data last week.

The Bank of England cut the interest rate by 25 basis points on May 8, and traders are betting that it will make another cut by the same point at its next meeting in June.