The US dollar traded higher against most of the major currencies on Tuesday but a large part of its gains were incurred during the Asian and early European trading sessions. In the NY hours, the greenback consolidated with very little direction. Stocks fell hard after yesterday’s rally while Treasury yields inched lower. New coronavirus cases in the sunbelt remain elevated with Texas reporting a new record high. The lack of reaction in FX is a sign that summer doldrums are here and with a completely barren economic calendar on Wednesday, further consolidation in currencies is likely. Senate leader McConnell confirmed ... (full story)