The greenback rebounded yesterday to trade higher against most of its major counterparts. Today, the US tariffs on USD 16bn Chinese goods kicked in amid talks between the two nations, with China expected to hit back. The talks continue today, but besides that, investors are likely to also focus on the Jackson Hole Symposium. The minutes from the latest ECB meeting are due to be released as well.
Fed Officials Willing to Continue Hiking, Jackson Hole Symposium Begins
The US dollar reversed course yesterday and outperformed most of the other G10 currencies. It gained the most against AUD, NZD and JPY in that order, while it lost ground only against NOK. It traded virtually unchanged against SEK, CHF and CAD.
The Aussie was the main loser among the G10s amid growing uncertainty in Australia’s political landscape after the resignations of several senior ministers, which put PM Tunrbull’s position at risk.
Yesterday, the minutes of the latest FOMC meeting revealed that many participants expect another rise in interest rates “soon”, while it was noted that officials generally expected further gradual increases. It was also repeated that many wanted to revise the...
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