The Japanese yen started the week on the back foot, weakening a bit to 155.80 per dollar as traders remain on tenterhooks for signs of government intervention. The currency has moved in tight ranges in the past couple of trading days.
On Monday, the euro was up 0.07 per cent at $1.087525 in early trading, stalking the nearly two-month high of $1.0895 it touched last week. The dollar index, which measures the U.S. currency against six rivals, was little changed at 104.46. "Come August, Chair Powell could take the Jackson Hole conference as a time to explain their thinking around the path ahead, teeing up a September cut. Let's just hope the data cooperates."
Source: Loan Digest (loandigest.net)
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