The US dollar was under pressure but managed to stage a comeback. The upcoming week features rate decisions in Australia, Canada, and the euro-zone, as well as other events. Here are the highlights for the upcoming week.
Yellen’s lack of hawkishness in Jackson Hole continued weighing on the US dollar. North Korea fired a missile over Japan and this triggered a risk-off reaction, helping the Japanese yen. However, positive US data, such as 3% GDP growth, gave a boost to the greenback allowed it to recover. EUR/USD shot up above 1.20 but dropped quite quickly as well. Despite higher inflation, the common currency dropped due to reports that the ECB doesn’t like its strength. The pound had a mixed week, with hopes for soft Brexit meeting the reality of tough negotiations.
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