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Greenback Goes Offered, G10 Crosses Hold Tight Ranges

FOREX

Headline flow has offered little of much note, leaving participants to keep focused on pre-Jackson Hole musings. The BBDXY index has traded on a heavier footing and sits within touching distance from yesterday's trough.

  • The Aussie dollar leads gains by narrow margins, with AUD/NZD printing its best levels since Jul 27. The kiwi earlier knee-jerked lower as New Zealand's retail sales unexpectedly contracted in Q2, but the reaction was modest and short-lived.
  • The highlight of today's Asia session is a monetary policy decision from the Bank of Korea. Policymakers are widely expected to raise the 7-Day Repo Rate by 25bp.
  • German GDP & Ifo survey, U.S. GDP & jobless claims as well as a speech from BoJ's Nakamura and the minutes from the ECB's Jul monetary policy meeting will take focus later in the day.

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