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Forex Today: Risk-on paused, but still leads
What you need to take care of on Friday, August 12:
The greenback seesawed between gains and losses, ending the day lower against most major rivals. Wall Street opened the day firmly higher amid more signals of receding US inflationary pressures, as the July Producer Price Index advanced by 9.8%, below expected.
Nevertheless and as US government bond yields advanced, equities lost steam, helping the dollar to recover some ground ahead of the daily close. At the time being, US indexes trade mixed around their opening levels, while the yield on the 10-year Treasury note stands at 2.88%.
The EUR/USD pair peaked at around 1.0360 for a second consecutive day, settling at around 1.0320. The GBP/USD pair trades just below 1.2200 ahead of the release of first-tier UK data. The country will publish the preliminary Q2 Gross Domestic Product estimate and June Industrial and Manufacturing Production.
The AUD/USD pair hovers around 0.7100, while USD/CAD trades at around 1.2770. Finally, safe-haven currencies eased at the end of the day, finishing it pretty much unchanged. USD/CHF hovers around 0.9420 while USD/JPY stands at 133.10.
Gold eased and is now trading at $1,785 a troy ounce. Crude oil prices increased, with WTI ending at $94.00 a barrel.
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