The dollar index is holding firm around recent levels as markets remain cautious ahead of developments from the Trump–Xi meeting. With limited conviction across risk assets, the dollar continues to benefit from steady yield support and defensive positioning. Near‑term direction is likely to hinge on geopolitical headlines and whether they materially shift broader risk sentiment.

EUR:

The euro continues to face downside pressure against the dollar, trading below recent highs as stronger US fundamentals and technical resistance weigh on the pair. While EURUSD remains above key medium‑term averages, momentum has softened, and markets remain wary of further downside should USD strength persist. Near‑term price action remains driven more by US dynamics than euro‑specific catalysts.

GBP:

Sterling is holding above the 1.3500 level after UK GDP and manufacturing figures surprised to the upside, offering some short‑term support. However, gains remain tentative, with the pound struggling to build sustained momentum against a firm dollar backdrop. While domestic data has helped stabilise sentiment, external drivers continue to cap upside for GBP in the near term.