Forex trading headlines from the European morning session 18 August

News:

Data:

The Carney week-end comments that we reported here and here have given the pound a boost but we saw consolidation this morning and not further gains as the jury remains well and truly out.

GBPUSD has mainly been around 1.6730 while EURGBP has been pinned around 0.8000 with EUR 800m in option expiries at 0.8010 and EUR300m at 0.8000 rolling off today

Elsewhere it’s also been another slow start to the week with EURUSD stuck around 1.3390, USDJPY 102.45 and USDCHF at 0.9040. Understandable given Friday’s fun n games and the ongoing uncertainty in Ukraine and Middle East.

AUDUSD looks well supported still but now has some decent offers at 0.9040 and more at 0.9050 while NZDUSD and USDCAD have mostly had the morning off again.

Lack of data today keeps geo-political events in the forefront of market considerations, and traders remain understandbly still cautious, or on the beach with their buckets and spades