BlockBeats News, June 24th, Capital.com analyst Daniela Hathorn stated in a report that upcoming US data will determine whether the current rally of the US dollar has further room to run. She noted that if inflation and labor market data continue to support the narrative of higher rates for longer, the dollar should remain supported.

If price pressures start to ease more quickly, the market may begin to question whether current rate expectations have become too aggressive. PCE data (Fed's preferred inflation gauge) and initial jobless claims data will be released on Thursday, with the nonfarm payroll report due on July 2nd. (FXStreet)