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Greenback Marks Time Ahead of Powell
The US dollar is paring some of yesterday's gains in quiet turnover ahead of Fed Chief Powell's speech at Jackson Hole, the week's last highlight. The euro and sterling are trading inside yesterday's ranges, which the dollar has extended its gains against the yen to reach a two-week high near JPY111.50. News of a new Prime Minister in Australia has lifted some of the political uncertainty down under, and the Australian dollar has recouped about a third of yesterday's sharp drop, its largest drop in two years (~-1.4%). The economic calendar is light today, featuring only the Japanese CPI and US durable goods orders. ... (full story)