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Dollar little changed in light trading

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Forex news from the European trading session – 26 August 2021

Headlines:

Markets:

  • EUR leads, CHF lags on the day
  • European equities lower; S&P 500 futures flat
  • US 10-year yields up 0.8 bps to 1.353%
  • Gold down 0.1% to $1,789.32
  • WTI down 0.8% to $67.83
  • Bitcoin down 3.7% to $46,910

FX was largely muted on the session as the dollar kept steadier amid some light pushing and pulling, not amounting to much change ahead of North American trading.

EUR/USD trades in a narrow range between 1.1760-70 while GBP/USD saw little action around 1.3740-50 levels on the session.

Commodity currencies are also little changed (only a touch softer), nothing to suggest any major change to price action over the past few days.

The overall risk mood was more tepid as European indices dial back following yesterday’s gains while US futures are also not showing much poise amid some trepidation at record levels going into Jackson Hole tomorrow.

10-year Treasury yields are keeping its advance from yesterday, helping to see USD/JPY push to 110.20 before sticking closer to 110.00 currently.

As the week begins to wind down, the focus is turning to Jackson Hole tomorrow and there might not be much in it besides more pushing and pulling before the main event.



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