020 7898 0500It was a bit of a mixed day for the US dollar yesterday, as it made gains against sterling but weakened against the euro. Strong data from the Eurozone helped strengthen the single currency across the board, while Brexit uncertainty continues to have a bearing on the pound.
The main focus of the markets will turn towards the Jackson Hole Economic Symposium which starts later today and continues through to Saturday. Investors will be looking toward the sentiments expressed by a variety of speakers, although particular attention will be on what US Federal Reserve Chair Janet Yellen says.
Given the speculation surrounding whether Donald Trump will replace her next year, it’s possible she will resist mincing her words and be explicit about the direction the Fed will take in the near future.
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