The dollar blows on Thursday, July 20, 2023 before the Fed, the pound continues to fall and the euro is on an upward trend of 0.18%.

The euro rose 0.18% to $1,1220, with investors waiting for the European Central Bank (ECB) policy meeting next week to get more clarity on its interest rate outlook.

The dollar was trying to hold its own against the euro ahead of the US Federal Reserve meeting next week, where a slight monetary tightening is expected, while the British pound continued to fall, still weighed down by inflation. Around 09:10 GMT (11:10 CET), the greenback crumbled by 0.07% to 1.1209 dollars per euro

Across the Atlantic, the pound continued its decline initiated the day before after the publication of better-than-expected figures on British inflation. The British currency lost 0.22% to 1.2911 dollars and slipped against the euro by 0.29% to 86.81 pence per euro

The Australian dollar surged on Thursday after the country's employment data far exceeded market expectations, while the yuan rose after Chinese monetary authorities stepped up efforts to defend their weakened currency.

Australian employment boosted Aussie by nearly 1% to an intraday high of $0.6840 in Asian trading, dragging the New Zealand dollar in its wake.

Kiwi was last up 0.63% to $0.6303, with the two Antipodean currencies poised to reverse four consecutive sessions of losses.

The yuan surged in onshore and offshore markets as a result of these developments, both strengthening by more than 0.5% against the US dollar. The offshore yuan was last nearly 0.7% higher at 7,1840 per dollar, while the onshore yuan was last traded at 7,1770 per dollar, after earlier reaching a

The Japanese yen rose nearly 0.3% to 139.33 per dollar.

The U.S. dollar index stabilized above 100 and stood at 100.18, regaining some ground after falling more than 2% last week as a spontaneous reaction to U.S. inflation data, which turned out to be colder than expected.