Conference in Jackson Hole and other hopes for a raise in rates.
Today the Dollar began to grow
The dollar rose against the currencies-rivals for today, after the fall on Monday. The main event this week will be a conference of central banks in Jackson Hole. It will be held on August 24-26. During this conference, it becomes known about the prospects for changes in the monetary policy of regulators.
The dollar index rose to 93.30.
In addition, on Friday, the speech of the head of the US Federal Reserve, Janet Yellen, is expected. Perhaps this statement will strengthen expectations for an increase in the rate at the end of this year, in which case the dollar may grow.
Investors are also waiting for the speech of the head of the European Central Bank Mario Draghi. Draghi’s performance will take place on Friday.
Draghi will not make statements about changes in monetary policy at the conference on August 24-26. This is reported by two sources. This situation reduces expectations that the European regulator will begin to prepare for the abandonment of incentive measures.
USD/JPY rose today. It is likely that there will be a beginning of growth from a low of 108.56. Now USD/JPY is trading at 109.36
Created by Joshua Hayn