Currency markets were once again treading water yesterday as thin August trading conditions continue. The day was a tale of 2 halves with the greenback weakening across the European session only for it to claw back some of its losses when US participants arrived at their desks
The pound is still holding above the $1.37 handle while the EURUSD pair seems locked in the $1.17 figure for the moment. GBPEUR remains in the €1.16 handle with support coming in at around the €1.1620 mark.
Today’s economic calendar is a little more interesting than yesterday’s. First up, in the morning session, the German IFO business climate index is scheduled for release. This will be followed up by US durable goods orders in the afternoon. It may be another quiet day as investors around the globe await Friday’s speech from Fed Chair, Jay Powell.
Written by Viv Savani. 8:32am, August 25th 2021
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