Forex Flash: It's shaping up as another range-bound week - BNZ

FXstreet.com (Barcelona) - Looking ahead, Mike Jones, currency analyst at Bank of New Zealand, doubt the trend for higher US yields, which climbed from 1.65% to almost 1.85%, "will be able to extend much further, ahead of Fed chairman Bernanke's seminal address to the Jackson Hole Summit at the end of August" the analyst said. According to Mr. Jones, "this should limit the topside for the USD in the near-term." All up, the analyst suspects "it's shaping up as another range-bound week as investors await the important events of late August/early September." However, Mike flags "we could see EURUSD test the 1.2445 top end of its range if European PMIs improve as expected and policy makers again attempt to bolster confidence in Eurozone debt markets."