US Dollar Gains Against G10s as Traders Await June Fed Minutes

The US dollar strengthened against most of the G10 currencies during European trading on Tuesday as traders waited for Wednesday's release of the Fed's June meeting minutes, seeking clearer clues on policy direction under new Chair Kevin Warsh. "The major risk for DXY probably stems from potential large-scale FX intervention in Japan [...] Failing to intervene below 163.0 could fuel speculation the new line in the sand is closer to 165," ING strategists said Tuesday. The US Dollar Index, a measure of the greenback's strength against the basket of major currencies, held steady to trade near 100.97 on Tuesday. A quick look at the majors ahead of the European lunch hour and the North American open. In Europe, EUR/USD declined 0.09% to 1.14301 even after Germany's industrial sector activity rose 0.9%, on a monthly basis, in May, after a 0.2% rise in the previous period. The print came far higher than the market expectations of a 0.2% surge. Released on Monday, retail sales in the Eurozone grew by 0.2% in May, compared with a 0.3% drop in the previous month. The markets predicted a 0.3% increase. In Asia, the USD/JPY dropped 0.12% to 161.884 as the Japanese currency regained its.