The US dollar was mixed today, rising against the euro (after the falling earlier), falling versus the Great Britain pound, and staying almost flat against the Japanese yen. The greenback also demonstrated mixed performance against commodity currencies.
Traders’ attention is focused on the Jackson Hole Symposium scheduled for the end of the week. Fed Chairwoman Janet Yellen will speak ahead of the meeting on Friday, and that is perhaps even more important for determining the future of the dollar. Market participants are wondering if Yellen will express the same optimism that many other Fed members seem to have.
For now, though, traders remain in the dark regarding plans of the Federal Reserve. Economic data released from the United States on Tuesday was not helping, being confusing with an improvement of the housing market but surprisingly disappointing figure for the manufacturing sector.
EUR/USD was down from the opening of 1.1319 to 1.1306 as of 19:39 GMT today after rising to the high of 1.1352 intraday. GBP/USD gained from 1.3136 to 1.3198. USD/JPY traded at about 100.18, close to the opening of 100.31.
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Post tags: Dollar, EUR/USD, Federal Reserve, GBP/USD, Jackson Hole, Janet Yellen, Monetary Policy, United States, USD/JPY
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