Finds Resistance at $1.1850 as Month-End Looms

Recovery off Wednesday's early NY low of $1.1772 met resistance again into the $1.1840 level (high $1.1839). Rate eased off to $1.1815 during the NY afternoon but managed to edge back to $1.1833, closing the day around $1.1831. Asia extended this late recovery, edged rate through $1.1840 and on to $1.1850 before momentum faded. Rate eased off to $1.1824 before settling around $1.1830 into Europe. Moves Wednesday were seen on the back of position adjustments ahead of Fed Powell's appearance at the virtual Jackson Hole Symposium.Moves in Asia were seen dictated by USD/JPY moves. Value date is for Monday month-end which could prompt some US corporate USD demand to emerge during the day, though month-end models suggest USD sales to be seen at Monday's fixes. Support $1.1825/15 ahead of $1.1800, stronger into $1.1770 and $1.1750. Resistance $1.1850, $1.1880/85, stronger at $1.1916. EZ M3 at 0900BST. US Weekly Jobless Claims, Q2 GDP. Fed Powell speaks at 1410BST.