Further optimism in the risk-linked complex maintained the Greenback under pressure in the first half of the week, while investors got ready for the release of crucial US inflation figures on Wednesday.
Still around inflation, the UK CPI will also be in the spotlight. Here is what you need to know on Wednesday, August 14: The USD Index retreated for the third day in a row and once again broke below the 103.00 support amidst lower yields. The Inflation Rate will take centre stage on August 14 seconded by weekly MBA’s Mortgage Applications. EUR/USD climbed to multi-day highs and revisited the 1.0980 zone on the back of the improved tone in the riskier assets.
USD/JPY maintained its erratic performance seen in past days, although a convincing breakout of the 148.00 barrier appears elusive for the time being. The next significant data releases in Japan will be the advanced Q2 GDP Growth Rate, the final Industrial Production and weekly Foreign Bond Investment, all expected on August 15. Another positive day saw AUD/USD trespass the key 0.6600 barrier and reach new three-week highs.
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