The USD weakens against most major currencies making the currency look weak against its rivals. The Japanese currency is recovering against the Dollar after a few 'bombs' in Japan from the S&P announcement. The Euro peaked to a 16-month high price against the Dollar at 1.4881 and the Aussie Dollar also gained a fair amount against the U.S Dollar, reaching 1.0947 from 1.0865. Aussie is continuing to look hawkish.
Ben Bernanke's interview yesterday concluded that the Fed will most probably keep the interest rate of 0.25% as it is currently set;
News of US unemployment claims and the GDP first release.
GDP first release is being forcasted to come out to 1.9%, although if the actual announcment later today proves to be greater than forecast it will be good news for the currency.
Unemployment claims are expected right after the GDP release, forecasing at 392k from the previous 403k. If results prove as forecasted, this will mean good news for the currency.
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