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Dollar steady ahead of Fed speech
The US dollar settled at the 99.15 level amid investor anticipation for the Federal Reserve Chair's speech at the Jackson Hole symposium, following a slight decline due to inflation data indicating ongoing inflationary pressures and expectations of holding interest rates steady in September. Data showed that the core Personal Consumption Expenditures (PCE) index increased by 0.2% month-over-month and 3.3% year-over-year in July, reflecting continued inflation. Meanwhile, real GDP growth for the second quarter was recorded at 1.5%. Markets expect the Federal Reserve to adopt a balanced approach, with all eyes on Waller's speech, which could shape the future of monetary policy and influence dollar movements.
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