Forex Today – Asian Session: Central Bankers Facing The Downsizing Challenge

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What you need to know on Thursday, September 9:

The dollar remained strong during the first half of the day, and demand for the dollar declined after the opening of Wall Street. However, it ended the day with gains against most of the main rivals.

The United States published the Beige Book, which showed that several districts indicated that companies anticipate significant increases in their sales prices in the coming months, somewhat reviving speculation on the tune-up.

In the UK, BOE policymakers testified before the House of Commons at the Monetary Policy Report Hearings as they lifted speculation about the upcoming cut in the UK. The Governor of the Bank of England, Andrew Bailey, said that the minimum conditions for a rate hike have been met, but that for the moment they are not sufficient. Other members of the Governing Council have delivered similar messages, although most of them focused on the medium term.

On Thursday, the European Central Bank will announce its decision on monetary policy, and the focus will be on whether they decide to start reducing financial support, as no changes in rates and the bond purchase program are expected.

EUR / USD fell for the third day in a row and settled around 1.1820. GBP / USD cut intraday gains and ended the day unchanged around the 1.3780 level.

Commodity currencies lost some ground against the dollar, with AUD / USD trading around 0.7370 and USD / CAD around 1.2680.

The European and US indices closed in the red, but outside the intraday lows. Government bond yields fell from weekly highs. The yield on the 10-year US Treasury note closed at 1.33%.

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