A dreadful week saw the US Dollar (USD) collapse to new yearly lows in the sub-101.00 region as investors continued to price in the likelihood of further and maybe deeper rate cuts by the Federal Reserve in the latter part of the year.
A dreadful week saw the US Dollar collapse to new yearly lows in the sub-101.00 region as investors continued to price in the likelihood of further and maybe deeper rate cuts by the Fed eral Reserve in the latter part of the year. The latter was bolstered by Fed officials and the dovish message from Chief Powell at the Jackson Hole event on Friday. The US Dollar Index dropped to a 13-month low in the 100.70–100.
The EMU final Consumer Confidence is due on August 29, along with the final Inflation Rate in Germany. On August 30, Retail Sales and the release of the labour market report in Germany are due, followed by the flash Inflation Rate and the Unemployment Rate in the euro bloc. The continuation of the strong rally sent GBP/USD beyond the 1.3200 barrier for the first time since July 2022, amidst further selling in the Greenback. The Mortgage Approvals and Mortgage Lending are due on August 30.
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