ForexLive European FX news wrap: The dollar selling continues

<p>Dollar technicals:</p><ul><li><a href="https://www.forexlive.com/news/eurusd-extends-gains-as-the-dollar-resigns-to-its-next-leg-lower-20230713/">EUR/USD extends gains as the dollar resigns to its next leg lower</a></li><li><a href="https://www.forexlive.com/news/usdjpy-drop-looks-set-to-continue-key-downside-levels-come-into-focus-20230713/">USD/JPY drop looks set to continue, key downside levels come into focus</a></li><li><a href="https://www.forexlive.com/news/gbpusd-looks-to-solidify-breakout-move-on-the-week-20230713/">GBP/USD looks to solidify breakout move on the week</a></li><li><a href="https://www.forexlive.com/news/usdchf-falls-through-the-floor-whats-next-20230713/">USD/CHF falls through the floor, what's next?</a></li><li><a href="https://www.forexlive.com/news/audusd-eyes-june-high-next-on-dollar-breakdown-20230713/">AUD/USD eyes June high next on dollar breakdown</a></li><li><a href="https://www.forexlive.com/news/nzdusd-takes-aim-at-april-and-may-highs-on-latest-jump-higher-20230713/">NZD/USD takes aim at April and May highs on latest jump higher</a></li></ul><p>Headlines:</p><ul><li><a href="https://www.forexlive.com/centralbank/ecb-accounts-members-generally-concurred-interest-rates-had-reached-restrictive-territory-20230713/">ECB accounts: Members generally concurred interest rates had reached restrictive territory</a></li><li><a href="https://www.forexlive.com/centralbank/ecbs-visco-we-are-not-very-far-from-the-peak-in-interest-rates-20230713/">ECB's Visco: We are not very far from the peak in interest rates</a></li><li><a href="https://www.forexlive.com/news/japan-top-currency-diplomat-kanda-says-closely-watching-fx-market-moves-20230713/">Japan top currency diplomat Kanda says closely watching FX market moves</a></li><li><a href="https://www.forexlive.com/news/uk-may-monthly-gdp-01-vs-03-mm-expected-20230713/">UK May monthly GDP -0.1% vs -0.3% m/m expected</a></li><li><a href="https://www.forexlive.com/news/eurozone-may-industrial-production-02-vs-03-mm-expected-20230713/">Eurozone May industrial production +0.2% vs +0.3% m/m expected</a></li><li><a href="https://www.forexlive.com/news/france-june-final-cpi-45-vs-45-yy-prelim-20230713/">France June final CPI +4.5% vs +4.5% y/y prelim</a></li></ul><p>Markets:</p><ul><li>AUD leads, JPY lags on the day</li><li>European equities higher; S&amp;P 500 futures up 0.3%</li><li>US 10-year yields down 3.7 bps to 3.824%</li><li>Gold up 0.1% to $1,959.73</li><li>WTI crude up 0.2% to $75.86</li><li>Bitcoin up 0.7% to $30,558</li></ul><p>We are getting a continuation of the dollar slide from yesterday, as the greenback is seen falling apart across multiple charts following the softer US CPI data yesterday.</p><p>Traders were already testing waters in the run up and the inflation numbers gave reason to stick with the selling conviction this week, which is continuing now.</p><p>EUR/USD is up another 0.4% to 1.1170 while GBP/USD is up 0.6% to test waters above the 1.3000 handle, seen at 1.3060 at the moment.</p><p>USD/CHF has also broken down to its lowest levels since January 2015, falling another 0.5% to 0.8630, while the antipodeans are pushing forward with strong gains amid the better risk mood as well. AUD/USD is up 1% to 0.6860 on the day, keeping in the hunt of its June high near 0.6900 next.</p><p>Treasury yields continue to fall further and that is helping with general equities sentiment, which is also bolstered by tech stocks after Elon Musk unveiled a new AI company to rival OpenAI's ChatGPT.</p>

This article was written by Justin Low at www.forexlive.com.