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Good day, everyone! Hope you're doing well as we get things going here in the European morning session. It's been a decent start to the day so far with the dollar stealing the headlines again, pushing gains following the Fed and Powell yesterday.
The greenback is advancing across the board as traders continue to scale back on rate cut expectations with a September cut now seen around ~62% after having been priced in about ~76% at the start of the week.
The focus up ahead will be on the Bank of England but later on in the week we'll have US non-farm payrolls data and that will put the focus back on Fed expectations. I reckon that will remain the case throughout August as well with plenty of attention to be put on Fedspeak ahead of the 18 September FOMC meeting.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.