- The US Dollar Index is holding just above the 104 level ahead of today’s US Core PCE, poised to finish the week gaining as little as 0.1%.
- In Japan, inflation has accelerated for a third month in July, opening the doors to a possible interest rate hike at next week’s Bank of Japan meeting. The currency continues to gain ground versus the greenback, currently trading just below 154.
- The euro continues to trade mid 1.08-1.09 with little data coming out of the region today that could potentially move us from this range. France and Italy consumer confidence are due to be released today but the focus for the pair remains on the Fed’s preferred inflation gauge.
- Cable trades below 1.29, and it looks like it is set to finish the week around these levels – mid 1.28-1.29.
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