USD was slightly stronger to start the week, with the USD index up by 0.3% in thin volumes. G-10 FX ranges were very tight as markets wait for data from Wednesday onwards.
Trump's meeting with Ukraine's president and European leaders ended with a call for a trilateral summit with Russia, which could be held within the next few weeks.
*Daily move - against G10 rates at 7:00 am, 19.08.25
** Indicative rates - interbank rates at 7:00 am, 19.08.25
USD price action remains lacklustre while markets wait for the FOMC minutes on Wednesday and the Jackson Hole meeting towards the end of the week.
GBP and EUR sit in the crosshairs of key data later this week (UK CPI, retail sales; PMIs), and again we expect ranges to hold until then.
Canada CPI is out today with markets expecting cooler headline CPI, which would reinforce the Bank of Canada's (BoC) hold on rates.
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