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Yellen under the spotlight today in Wyoming

By Michael Cooper August 26th, 2016

The US dollar struggled for direction this week as traders awaited the annual global gathering of central bankers at Jackson Hole, Wyoming.

Positive U.S. data released yesterday saw a 1.6 percent rise in U.S. durable goods orders for July and a fall in initial weekly jobless claims.

Federal Reserve Chair Janet Yellen is expected to offer guidance on US Monetary policy today at the Jackson Hole Symposium. A number of upbeat statements by central bank officials have led the markets to expect an interest rate hike before the end of the year, and Yellen’s speech may confirm the recent guidance. That being said, a number of have suggested Yellen could disappoint the market today as recent US data might not be strong enough to warrant an increase in the near term.

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