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Jackson Hole in focus as dollar falls against yen, euro on the rise

TradingKeyAug 19, 2024 1:19 PM

- The yen surged while the euro hit a yearly peak as the dollar weakened in anticipation of dovish signals from the upcoming Federal Reserve meeting minutes and Chair Jerome Powell's speech at Jackson Hole.

- The Fed's July meeting minutes and Powell's speech this week will drive currency markets, alongside inflation data from Canada and Japan, and PMI readings from the US, Eurozone, and UK.

- Analysts anticipate a potential further decline in the dollar against the yen due to rate differentials and expectations of rate cuts by the Fed, with the dollar hitting seven-month lows against a basket of currencies.

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