FX Closing Bell August 25, US Dollar Tanks Taking EUR/USD Near 2017 Highs, Gold Price Jumps
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As summer doldrums end, the near future for the USD remains bleak after weak US data was stamped this week with Yellen encouraging DXY bears further.
• Dollar breakdown extends after Yellen’s Jackson Hole speech favoring regulation over growth
• Hurricane Harvey sending commodity markets in different directions, Gold price jumps
• EUR/USD looks set to test 1.2000 if ECB does not stand in its way
• Sentiment Highlight Euro Traders Once Again Sell – We Prefer to Buy