Please call the FX Department at 626-279-3235 for the most current rate.
August 21, 2026

Euro traded at 1.1681 against USD at 9:00 AM PST
The euro area private sector expanded the most in nine months in August, driven by strong growth in manufacturing. The composite output index climbed from 52.0 in July to 52.1 in August. The reading was seen at 51.7. Manufacturing production increased at the fastest pace in four-and-a-half years.
Meanwhile, the moderate expansion in services activity was unchanged from the July level. The flash manufacturing Purchasing Managers' Index (PMI) rose from 51.9 in the prior month to 52.8. At the same time, the services PMI remained unchanged at 51.7. Overall, business activity in Germany rose modestly in August, while France posted a further decline. The rest of the euro area registered the fastest expansion since April 2022.
Germany's private sector expanded in August as a continued upturn in manufacturing production offset subdued performance across the services economy. At 51.0, the composite output index was down from 51.3 in July. The services PMI dropped to a three-month low of 48.5 from 49.8 in the prior month. On the other hand, the factory PMI hit a 51-month high of 54.1, up from 52.2 in the previous month.
France's private sector contracted further in August due to the downturn in services activity. The flash composite output index fell from 49.4 in July to 48.8. The downturn in overall activity was entirely driven by services companies as manufacturing output grew for the first time since April. The services PMI registered 48.4, down from 49.6 in the prior month. Meanwhile, the factory PMI improved from 49.8 in July to 51.5 in August. 8/21/2026 - 08:51:00 (RTTNews)
British Pound traded at 1.3638 against USD at 9:00 AM PST
The United Kingdom service sector grew at the fastest pace in six months in August, offsetting a slowdown in manufacturing output. The flash services Purchasing Managers' Index (PMI) advanced from 52.1 in the previous month to 52.8. The score was seen at 51.8. The reading suggested that services activity grew the most since February.
In contrast, manufacturing production grew only marginally in August and at the weakest pace for five months. Geopolitical uncertainties and elevated cost pressures were cited as constraints on growth. The factory PMI posted 51.5, down from 51.9 in July. Consequently, the overall composite output index rose moderately from 52.2 in July to 52.5 in August. 08/21/2026 - 09:23:00 (RTTNews)
Japan's headline inflation accelerated to a seven-month high in July on rising food and energy prices. Japan's private sector expanded at the fastest pace in six months in August, driven by a steeper increase in new orders. Inflation rose from 1.6% in June to 1.9% in July. This was the highest rate since December 2025.
Excluding fresh food, core inflation rose from 1.6% a month earlier to 1.8%. The 1.8% was the strongest since January. Compared to last month, consumer prices rose 0.4%. Inflation, excluding fresh food and energy, rose from 1.7% to 1.9%. Fresh food prices surged 7.0%, and fuel, light and water charges rebounded 0.7%.
Elsewhere, Japan's private sector growth improved strongly in August. The composite output index picked up from 52.7 in July to 53.4. The output increased in each of the past 17 months, and the rate of growth hit the strongest since February. The services Purchasing Managers' Index (PMI) climbed from 51.2 to 52.3. At the same time, the factory PMI posted 55.1, up from 54.5 in July. 08/21/2026 - 04:34:00 (RTTNews)
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.
Our specialists are happy to assist you with all your International Banking needs. Please reach out to our team for more information.