USD fell against a basket of other major currencies on Friday as the US political uncertainty and doubts about the Fed’s rate hike this year.
The USDJPY was down by 0.36% to trade at 109.18 at the end of the session. The USD fell to a four month low against the Japanese currency earlier in the day, but reduced losses after reports that a senior White House adviser had resigned.
The EUR hit a weekly gain versus the GBP, gaining 0.56% on expectations that the Bank of England will keep interest rates unchanged in the coming months amid concerns over the economic fallout from Britain’s exit from the European Union.
Next week, investors are awaiting a series of speeches by central bankers at the annual central bank meeting in Jackson Hole, Wyoming.
Investors will also watch US housing and durable goods data to gauge the impact on Fed policy, while the EUR area will publish data on private sector activity.
The following are the major economic events this week
Monday, 21 August
Canada will publish data on wholesale sales.
Tuesday 22 August
The UK will publish data on borrowing from the public sector.
The Zew Institute will present a report on German economic sentiment.
Canada will also publish data on retail sales.
Wednesday, 23 August
European Central Bank President Mario Draghi is scheduled to speak at an event in Germany.
The EUR zone will release data on manufacturing and service sector activity.
Dallas Federal Reserve Chairman Robert Kaplan will also speak.
The United States will release data on new home sales.
Thursday 25 August
The UK will release revised data on Q2 growth.
The United States will report unemployment claims and existing home sales.
Meanwhile, the annual meeting of senior bankers and economists will take place in Jackson Hole.
Friday, 26 August
The Ivo Institute is scheduled to present a report on the German business climate.
The United States will publish data on durable goods orders.
European Central Bank President Mario Draghi will also speak at Jackson Hole.