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USD
EUR/USD
The Euro surged above $1.1700 from a low of $1.1580 on Friday, as Fed Chair Powell hinted at a September rate cut during his speech at Jackson Hole.
GBP/USD
The Pound Sterling skyrocketed to $1.3508 as Fed's Powell highlighted the downside risks to the labour market, boosting the odds of a Fed rate cut from 75% to 90%.
USD/JPY
The Japanese Yen accelerated to 147.35 against the greenback after Bank of Japan Governor Kazuo Ueda stated at Jackson Hole that wages in Japan are expected to remain under upward pressure due to a tight labour market. His comments signalled his optimism that conditions for another interest rate hike were falling into place.
AUD/USD
The Australian dollar was up to $0.6492 ahead of the release of the Reserve Bank of Australia Meeting Minutes, due tomorrow morning.
USD/CAD
The Canadian dollar erased losses to regain 1.3835 against its U.S. counterpart, supported by rising Oil prices after Ukraine stepped up attacks on Russia.
USD/ZAR
The South African rand strengthened to 17.46 against the U.S. dollar, boosted by a weaker dollar and a rebound in gold prices, after U.S. Federal Reserve Chair Jerome Powell leaned dovish on Friday.
USD/MUR
The dollar-rupee was trading at 46.10 (selling) this morning following the intervention by the Bank of Mauritius.
12:00 EUR IFO – Business Climate
12:00 EUR IFO – Current Assessment
12:00 EUR IFO – Expectations
18:00 USD New Home Sales Change
