The US Dollar (USD) trades substantially stronger and has reversed in a few pairs the incurred losses from last week. That is especially the case in the US Dollar (USD) against the Euro (EUR) where very soft European inflation data already triggered a weaker Euro. With the strong and upbeat US data, the Euro took another leg lower against the US Dollar and currently trades at levels where it started on Monday last week preceding the Jackson Hole Symposium.
On the US economic calendar front, as mentioned above, US Gross Domestic Product saw its second reading for the second quarter and saw upbeat numbers coming in. In addition to that, the US weekly jobless claims showed a still strong weekly number, while the continuing claims are starting to tick up a little bit.
Source: FXstreet
