Euro Swings Between Gains and Losses on Powell’s Speech

The  euro today alternated between gains and  losses against the  US dollar swinging wildly between gains and  losses ahead of  Jerome Powell speech. The  EUR/USD currency pair spiked higher and  then crashed lower during the  Fed Chair’s speech creating uncertain trading conditions for  most traders.
The  EUR/USD currency pair today spiked to  a  high of  1.1901 during the  Jackson Hole speech before crashing to  a  low of  1.1762 and  was within the  range at  the  time of  writing.
The  currency pair traded bearishly earlier today before the  Jackson Hole symposium speeches as  investors expected a  more hawkish Fed speech that would boost the  dollar. The  release of  the  upbeat French manufacturing business climate index by  Insee had a  muted impact on  the  pair. The  mixed Italian industrial sales and  orders report for  June released by  Istat also had a  minimal effect on  the single currency. Lastly, the  euro area M3 money supply report released by  the  European Central Bank barely moved the  pair, which was trading sideways.  
The  pair later fell then rallied higher on  the  downbeat US Q2 GDP data released by  the  Bureau of  Economic Analysis early in  the  American session. The  pair later spiked to  its daily highs and  lows during Jerome Powell’s speech and  was still within the  range at  the  time of  writing.
The  Currency pair’s future performance is likely to  be affected by  tomorrow’s multiple euro area and  US releases.
The EUR/USD currency pair was trading at 1.1816 as at 17:45 GMT, having fallen from a high of 1.1901. The EUR/JPY currency pair was trading at 125.98, having rallied from a low of 125.14.
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