The news flow has been light in European morning trade but in the big picture, the focus this week is on Fed chair Powell's speech at Jackson Hole. There are murmurs of a more hawkish message and we are seeing some positioning flows accompany that now with the greenback nudging higher.
EUR/USD is down 0.5% to 0.9918 and inching towards 0.9900 again while GBP/USD is also down 0.5% to 1.1774 after hovering around 1.1800 earlier in the day. I highlighted the technical considerations for both pairs earlier here and here respectively.
Elsewhere, AUD/USD is down 0.5% to 0.6895 while USD/CAD is up 0.3% to near 1.3000 again even as oil prices are seen slightly higher on the day.
