The British pound (GBP) traded in a tight range around 1.3550 against the US dollar (USD) during the European trading session on Monday (August 18th). The GBP/USD pair consolidated as investors awaited a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and NATO members at the White House on Monday to discuss conditions set by Russian leader Vladimir Putin for ending the war in Ukraine. On Friday, Trump met with Putin in Alaska to discuss a peace agreement. After the meeting, Trump said that Putin had offered to freeze most of the front line if Kyiv...
Gold edged higher as traders anticipated potential interest rate signals from the Federal Reserve's annual meeting in Jackson Hole, as well as high-stakes diplomacy in Washington regarding efforts to end the war in Ukraine. Gold bullion prices traded near $3,350 an ounce, holding within a narrow range for the past few sessions. Central bankers from around the world will gather for a meeting in Wyoming starting Friday, with market pricing indicating a US interest rate cut is likely at the Fed's policy meeting next month. Fed chief Raphael Bostic said after a three-day visit to the...
The dollar strengthened on Monday (August 18th) ahead of a meeting between US President Donald Trump and his counterparts from Ukraine and Europe, while attention was also focused on the Federal Reserve's Jackson Hole Symposium for policy guidance. The euro weakened 0.2% against the dollar to $1.1680, the yen weakened by the same amount to 147.445, while the British pound weakened about 0.1% to $1.3544. Reduced bets on a Fed rate cut next month helped the dollar find support amid previously stagnant foreign exchange market movements on Monday. Money markets now price in an 83% chance that...