The continuation of the selling pressure remained unchanged around the Greenback in the context of further improvement in the appetite for the risk-associated universe, all ahead of the release of the FOMC Minutes and the speech by Chief Powell at Jackson Hole.
Here is what you need to know on Tuesday, August 20: The USD Index collapsed to multi-month lows near 101.80 on the back of the intense upbeat sentiment in the risk complex. On August 20, the Fed ’s Bostic and Barr are due to speak, seconded by the API’s weekly report on US crude oil inventories. EUR/USD advanced to new 2024 peaks near the 1.1100 mark in response to the steep decline in the Greenback.
USD/JPY dropped to multi-day lows and revisited the low-145.00s following the sharp decline in the US Dollar and mixed yields. The Balance of Trade results will be the next data release noteworthy in Japan on August 21. An auspicious start to the week saw AUD/USD climb to five-week highs around 0.6730. The RBA Minutes will be published on August 20.
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