EUR Pares Early Losses

The EUR has pared early losses, EUR/USD fell below the 200-DMA in early dealing as ECB's Nagel noted he is yet to make his mind up about the September ECB monetary policy decision. Elsewhere in G-10 ranges are narrow with little follow through on moves.

• EUR/USD has recovered to sit a touch above the €1.08 handle and is down ~0.1% from opening levels. Technically EUR/USD is bearish, support now comes in at €1.0788, 1.0% 10-DMA envelope, €1.0767, bull channel base drawn from Mar 15 low, and €1.0733, low from Jun 12. Resistance is at €1.0933, the 20-Day EMA.
• Yen is also marginally pressured, July Tokyo CPI was a touch lower than expected. USD/JPY has breached Wednesdays high however a ~20 pip range is persiting thus far.
• The Antipodeans are dealing in narrow ranges, AUD and NZD remain little changed from opening levels.
• Cross asset wise; US Tsy Yields are a touch lower across the curve and e-minis are ~0.1% firmer. BBDXY is up ~0.05%.
• There is a thin docket in Asia today, further out Fed Chair Powell's speech at Jackson Hole provides today's highlight.