Dollar holds steady before Jackson Hole
The US dollar remains within a narrow range ahead of the annual Jackson Hole symposium, with its index holding steady at 99.12 points. The likelihood of the Bank of Japan raising interest rates next month exceeds 86%. The Japanese yen's value steadied at 159.29 yen against the dollar, despite statements emphasizing the importance of raising rates without explicitly referencing the September decision. U.S. data also showed the Personal Consumption Expenditures (PCE) index remaining steady at 3.7% in July, reinforcing expectations of a rate hike in the United States before the end of the year. Meanwhile, the Bank of Korea raised interest rates for the second time to reach 3%, and these developments are expected to influence global markets in the upcoming period.
Notice: This Is an AI-Generated Summary
Comments (0)