Forex Today: US Dollar ends mixed, retains its leadership

What you need to know on Tuesday, August 22: The US Dollar lost some ground on Monday, although a scarce macroeconomic calendar kept major pairs withi

The US Dollar lost some ground on Monday, although a scarce macroeconomic calendar kept major pairs within familiar levels.remained sour, while government bond yields advanced, reflecting the ruling cautious stance. The US Treasury yield hit its highest since 2007, as investors are concerned global central bankers will extend the monetary tightening programs to tame inflation.

China remained in the eye of the storm, with news indicating that government land sales revenue declined for the 19th consecutive month in July. The People’s Bank of China cut the one-year Loan Primer Rate by 10 basis points to 3.45% on Monday, as expected, following similar measures last week and falling short from expectations of bolder measures. The Yuan fell with the news, as speculative interest was waiting for a more aggressive measure to support the local currency.

German Bundesbank monthly report showed inflation could persist above the central banks targets for longer while growth is foreseen seen largely flat in Q3. EUR/USD struggles around 1.0900, lacking momentum to run past the level. GBP/USD looks better poised to extend gains, trading at around 1.2740. The Australian Dollar gained vs its American rival, will Gold prices also up, although the latter held below $1,900. TheUSD/JPY trades above 146.00 and near its recent multi-month high of 146.53 amid mounting speculation the Bank of Japan will need to readjust its ultra-loose monetary policy soon.

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