European mid-morning FX snapshot: Kiwi, dollar holds firm


The pound and franc are on the back foot


Markets are largely quiet as we wait with bated breath for Jackson Hole to kick some life into things. The kiwi remains at the front of the pack after less dovish remarks by RBNZ governor Adrian Orr earlier in the day.

Meanwhile, the dollar continues to hold more firm amid higher Treasury yields with some positioning ahead of Fed chair Powell’s speech later on in US trading. As yields hold higher, the yen is weaker on the session as such.

Equities continue to sit higher on the day and that is keeping the franc a little softer in the European morning. Other than that, the pound is seen giving back overnight gains but cable remains supported around 1.2200 for the time being.

All eyes are on Jackson Hole and the Fed ahead of the weekend so expect the quieter tones to continue playing out over the next few hours.

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