Daily Morning Report 25.08.2017

The dollar held steady against other major counterparts on Friday, ahead of highly-anticipated speeches by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi due later in the day in Jackson Hole.

EURUSD was almost unchanged at 1.1791.

Later Friday, ECB President Draghi was not widely expected to deliver any new policy message in his speech, despite speculation over how soon the central bank plans to start scaling back its stimulus program.

GBPUSD was also little changed at 1.2808, just off the previous session’s two-month low of 1.2796.

Meanwhile, USDJPY held steady at 109.62.

The greenback was hit this week by fresh U.S. political tensions, after U.S. President Donald Trump said he would be willing to shut down the government to finance a wall along the U.S.-Mexico border and that he might terminate the NAFTA trade treaty.

Market participants were also looking ahead to U.S. reports on durable goods orders, due later in the day.