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The U.S. Dollar is rallying within familiar ranges, supported by stronger-than-expected economic data, including a 2.9 percent rise in Durable Goods Orders and a 3.8 percent GDP growth for Q2. However, concerns about inflation and pressure on the Federal Reserve to cut rates may limit further gains. The Japanese Yen has weakened by 2 percent over the past eight days due to political friction and a shift in domestic economic policies. Meanwhile, the Mexican Peso is down over half a percent following robust U.S. data, while the Argentine Peso has surged 10.2 percent, buoyed by reports of potential U.S. support for Argentina. Gold remains a standout as a safe haven amidst cautious global markets.
