The yen keeps the major currencies against the backdrop of the softer risk tones, with the shares remaining weaker before the session begins. This remains the main trend of the week, with the yuan also remaining under pressure in the trading day to date.
This sentiment keeps the Aussie, Kiwi and Canadian back on their feet before the start of European Morning. It should be noted that the kiwi is at a three-year low against the dollar.
European currencies are trading in a narrow range and remain under pressure, but the session focuses on PMI data that expires in a few hours.
But overall, looking ahead, the sentiment fluctuation this week shows uncertainty in markets, with the main focus on comments from Fed officials in Jackson Hole, with the symposium starting tomorrow. Expect markets to remain in search of direction and trade in chopes during this time.
Trader Aleksandar Kumanov