•  Dollar gains after US-China trade talks news were short-lived.

•  USD/JPY & USD/CHF rallies remain weak despite equity rebound.

•  Markets await Treasury Sec. Bessent’s testimony & tonight’s Fed decision.

•  Fed likely to hold rates; July seen as earliest cut window.

•  DXY struggling below 101.00 — bearish momentum persists.

 EUR: Resilient Despite Merz Setback

•  EUR/USD resilient despite Merz’s failed confirmation vote in Germany.

•  Supported above 1.1260, eyeing 1.1380–1.1420 range.

•  Chinese stimulus seen as EUR-positive amid global demand boost.

GBP: Trade Momentum Supports Sterling

•  GBP steady with UK-India trade deal signed.

•  Hopes rising for a US-UK deal this week.

•  BoE decision tomorrow; markets may be overpricing rate cuts.

•  GBP/USD could revisit 1.3445 short-term.

What’s Next?

• Despite the geopolitical noise and upcoming central bank actions, the market seems to be pricing in more caution than conviction. FX pairs are drifting rather than trending — ideal for short-term tactical plays, but still no clear directional conviction across majors.