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Session Recap: USD steady with risk events in focus

FXStreet (Córdoba) - Another quiet European session Friday has seen majors consolidating in narrow ranges as investors refrain from taking big positions ahead of the Scottish referendum and the Fed meeting next week.

EUR/USD is little changed at the 1.2920 zone, having spent most of the day within a 20-pip range. GBP/USD attempted a recovery Friday after a recent YouGov poll showed the ‘no’ leading the vote in Scotland, but the upside has been capped by the 1.6275 zone.

USD/JPY reached yet another 6-year high of 107.39 but lacked follow-through and retreated somewhat. Meanwhile, the Australian dollar continues to underperform despite solid jobs data yesterday, having dropped to a nearly 6-month low of 0.9042 during the European session.

Markets' focus has turned to next week risk events, keeping investors in the sidelines. The Federal Reserve will decide on monetary policy Wednesday Sept 17 amid growing expectations the Fed will take a hawkish turn. Meanwhile, Scottish independence referendum will take place Thursday.

During today’s New York session watch for US August retail sales and the Reuters/Michigan consumer confidence.

Main Headlines in Europe:

Germany Wholesale Price Index (YoY) rose from previous -0.7% to -0.6% in August

What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank

Next week packed with market moving events - - TD Securities

European Monetary Union Industrial Production w.d.a. (YoY) registered at 2.2% above expectations (1.3%) in July

EMU: Annual Employment rises by 0.4% in Q2

European stocks little changed as investors await key events next week

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