020 7898 0500With the start of the week offering little in the form of data, all eyes were on the fallout of last week’s US interest rate speculation. The Federal Open Market Committee (FOMC)’s meeting minutes last Thursday suggested a mixed response, with little to suggest the want for rate rise any time soon, but rhetoric seems to have shifted yesterday.
Along with comments from Federal Reserve officials William Dudley and John Williams, who last week mooted the possibility of a September hike, we had views from Stanley Fischer who suggested the US is close to achieving its inflation and unemployment targets. These views are likely to underpin the US dollar movement as we head into the Jackson Hole Symposium later this week.
The Symposium is expected to see Janet Yellen talk about her expectations of the timing on a rate hike. All eyes will be on this on Thursday and Friday, for any clues as to when the Federal Reserve may shift interest rates.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
