{
  "id": 1887924,
  "title": "Forex Today: UK inflation data arrive mixed, focus shifts to FOMC Minutes",
  "url": "https://urgent.news/2026/08/19/forex-today-uk-inflation-data-arrive-mixed-focus-shifts-to-fomc",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T07:39:09.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/forex-today-uk-inflation-data-arrive-mixed-focus-shifts-to-fomc-minutes-202608190739"
  },
  "original_language": "en",
  "account": "On Wednesday, August 19, Eurostat will publish revised July inflation figures for the European market, while the Federal Reserve (Fed) releases minutes from their July policy meeting later in the day. The US Dollar (USD) was the weakest currency against major counterparts this week. In July, UK inflation, as measured by the Consumer Price Index (CPI), rose to 2.9% from 2.6% in June, matching analysts' expectations. The core CPI increased by 2.6%, while the Producer Price Index - Input fell by 1.7% month-over-month.\n\nThe British Pound (GBP) against the US Dollar (USD) edged higher in the European morning, trading around 1.3550. The USD Index experienced slight gains on Tuesday, but struggled to maintain its momentum early Wednesday, settling near 99.50, while US stock index futures remained flat.\n\nAnalysts at ING note that the \"unresolved conflict in the Middle East is keeping energy prices high and contributing to the rise in long-end yields.\" They highlight that US Treasuries with longer maturities found some demand at yields above 5.30% on Tuesday, but risks remain tilted to the upside.\n\nFor today, ING emphasizes that \"tonight's release of the FOMC minutes for the July meeting\" will be the focal point for investors. They remind clients that the vote was 9-3 for maintaining the target rate, which proved dovish for the short end of the yield curve and the USD, while long end sold off.\n\nMeanwhile, US President Donald Trump stated that no talks with Iran are underway or scheduled, while Iran's foreign ministry spokesperson dismissed the UAE's claim of Iran's involvement in recent missile strikes against the Gulf country.\n\nOil prices remained relatively stable early Wednesday, with West Texas Intermediate (WTI) crude trading around $84.50 per barrel. The US Dollar (USD) against the Canadian Dollar (CAD) slipped and traded below 1.3900 following moderate gains on Tuesday. Following overnight negotiations with Canadian Prime Minister Mark Carney, US President Trump announced a three-day pause of 50% tariffs against Canada.\n\nIn the European morning, EUR/USD showed increased momentum, trading near 1.1600. The European Central Bank (ECB) policymaker stated that maintaining inflation expectations is crucial, but added that no clear signs of second-round effects are apparent. Following minimal gains for two consecutive days, USD/JPY turned south and declined toward 159.00. Strategists at OCBC predict an 80% chance of a September Bank of Japan (BoJ) rate hike, up from 50% at the start of August. If the BoJ accelerates policy normalization and the Japanese Yen (JPY) loses its status as a low-yielding funding currency, it could strengthen over time. For now, OCBC maintains an end-2026 USD/JPY target of 163, but could become more optimistic if the BoJ signals a more aggressive rate hiking course or if Japan actively encourages capital repatriation. Gold experienced a near 2% drop on Tuesday, recovering in the European morning and trading above $4,350.",
  "summary": "Here is what you need to know on Wednesday, August 19:",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "US Dollar: Range-bound trading as FOMC minutes loom – ING",
        "url": "https://urgent.news/2026/08/19/us-dollar-range-bound-trading-as-fomc-minutes-loom-ing",
        "published": "2026-08-19T08:09:38.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}