Published: 2025-08-06T19:46:37.000Z
North American Summary and Highlights 6 Aug
Senior Economist , North America
7
Overview - The USD was generally weaker, assisted by a more dovish tone from Fed’s Kashkari and Cook.
North American session
The USD was generally weaker in North America. There was no significant data but Fed’s Kashkari and later Cook expressed concern over the weakness of recent employment data. USD/JPY fell to near 147 from 147.50, EUR/USD advanced to 1.1660 from near 1.16 with EUR/JPY pushing above 171.50. GBP/USD rose to 1.3360 from 1.3310 but the commodity currencies saw only limited extensions of their European gains.
European morning session
USD/JPY saw some early gains as far as 147.89 but later corrected back to 147.50. Otherwise, the USD was fairly stable early on before slipping later, EUR/USD nudging above 1.16, GBP/USD moving back above 1.33, AUD/USD rising to near .65 and USD/CAD slipping to near 1.3750. EUR/JPY advanced from 170.70 to peak just below 171.50.