we'll see now my last Currency weekly analysis.
The pair ended the week in its highs at 1.1919 in what was mostly a gloomy week for the majority of the period and came into life on Friday as Yellen and Draghi took the stage. The consolidation and ranging in the pair dominated most of the week as the market looked ahead to the speeches at the Jackson Hole Symposium. Both Draghi and Yellen spoke on the sidelines, however, Yellen clearly avoided touching the monetary policy and her speech was seen as a dampener. There was nothing new from Draghi as well but he mentioned about the economic recovery in Europe which was enough of a signal for the market to buy even more euros and helped it cross at the highest level since 2015. The week ahead is likely to observe the end of the month currency flow together with CPI data from Euro to be announced on Thursday. In addition, US is expected to announce its ADP employment change data on Wednesday, consumption data on Thursday and employment data on Friday which is expected to bring in a lot of volatility during the week.
USDJPY started the week with downward pressure as the North-Korean t…