USD gains
The USD has gained most against the GBP and the EUR after weak European PMI’s and the usual Brexit doom and gloom. 
The US PMI due later will be key for the next turn in the dollar as European traders start to head for lunch. 

USD strength
Other markets
– FTSE: -0.09%
– Euro Stoxx:-0.10%
– Dax: -0.6%
– Gold: -0.68%
– Bitcoin: -1.13% 
The session started with a positive handover from Asia .

Office for National Statistics

Brexit woes drags down Cable
Cable finds some temporary support from the key weekly trend line as sellers take some profit after a flurry of negative Brexit talk from and the chief negotiators. A break of this level to the downside will be significant. 

USD strength
r and no progress in Brexit talks have pushed . This has given the USD strength. 
Weak PMI’s have dragged the EURUSD lowe
GBPUSD down through a key weekly trend line

ECB releases the account of its July 2020 monetary policy meeting
– Financial market conditions had continued to normalise
– They remain tight and more fragile than before the pandemic
There isn’t anything new with regards to the ECB’s policy stance and their take on recent economic developments. They are very much in wait-and-see mode right now but

Forex news from the European trading session – 20 August 2020
Headlines:
– CHF leads, NZD lags on the day
– European equities lower; E-minis down 0.3%
– US 10-year yields down 2.7 bps to 0.652%

That sets up a more interesting session later in the day
S&P 500 futures have trimmed losses to 5-6 points now after having been down by as much as 26 points earlier today. The European session low saw futures slip by 0.7% or by 22 points before recovering to current levels.

GBP/USD pushes to session highs for the day, price action now in a battle between the key hourly moving averages
Near-term support at around 1.3067-74 held earlier today and that is helping to see buyers try to wrestle back some control in a push back above 1.3100 on the session.

Deutsche Bank argues that the euro may have hit a top for now
Adding that any move towards 1.2300 in EUR/USD would make the range lean towards the extreme side and see ‚ultimate exhaustion‘.