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Dollar consolidates as investors expect interest rate decisions from the Federal Reserve and European Central Bank on the background of evidence that the economy around the world slows down. The data on the U.S. labor market proved to be very optimistic - according to the report, ADP, employment increased by 163 thousand in July, against the average forecast of 120 thousand other macro data also remained "in the shadows." For example, construction costs have shown an increase in line with expectations at 0.4% in June, and in the industry, according to a report ISM, was marked by the decline in July, the second consecutive month.
The euro rose against the yen after the Bundesbank President Jens Weidmann said the ECB should not cross the boundaries of the mandate. Recall that European politicians will announce its decision on interest rates tomorrow. Earlier, President Mario Draghi has promised to do everything possible to protect the single currency.
The pound fell after the published data on the UK showed that the index of manufacturing activity fell in July to their lowest values in the last three years. The index in July was at 45.4, up from 48.6 in June.
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