U.S. Dollar Edges Higher Ahead of PCE Data, Jackson Hole
Dow Jones
7 hours ago
0629 GMT - The U.S. dollar trades marginally higher as markets await the release of the July PCE data at 1230 GMT, the Federal Reserve's preferred gauge of inflation. The Kansas City Federal Reserve's upcoming Jackson Hole symposium later this week will also be key for the dollar if Fed Chairman Kevin Warsh recommits to taming inflation. Standard Chartered's Steve Englander and John Davies reckon that Warsh will aim to restore investor confidence that "the Fed will do what it takes to lower inflation" and "convey a sufficiently strong commitment to achieving inflation targets to reduce market term premia and fears of fiscal dominance." The DXY dollar index rises 0.1% to 98.997.
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