Here is what you need to know on Thursday, August 1: Following a volatile American session that featured the Federal Reserve's (Fed) policy announcements and Fed Chairman Jerome Powell's press conference, market attention shifts to the Bank of England's (BoE) rate decision on Thursday.
Here is what you need to know on Thursday, August 1: Following a volatile American session that featured the Federal Reserve's policy announcements and Fed Chairman Jerome Powell's press conference, market attention shifts to the Bank of England's rate decision on Thursday. In the second half of the day, weekly Initial Jobless Claims, second-quarter Unit Labor Costs and ISM Manufacturing PMI data for July will be featured in the US economic docket.
The Japanese Yen rallied against its major rivals following the Bank of Japan's unexpected decision to raise its policy rate on Wednesday. After losing nearly 2% on Wednesday, USD/JPY extended its slide and touched its lowest level since mid-March near 148.50 during the Asian trading hours on Thursday. Heading into the European session, the pair staged a rebound and was last seen trading little changed on the day at around 150.00.
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