With Janet Yellen due to speak in under 3 hours, here are some observations from how the day may proceed courtesy of David Finnerty, an FX strategist who writes for Bloomberg.
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Macro View: Trump Debt Dance to Cap Dollar Love at Jackson Hole
The dollar needs some love, but politics are going to keep it starved of affection, even as Federal Reserve Chair Janet Yellen’s appearance Friday at Jackson Hole and the looming September Fed meeting have made some of my colleagues anticipate that central banks will reassert their preeminence.
All investor eyes will initially be on Yellen’s speech for clues on monetary policy normalization, a key question for policy hawks and dollar bulls. However, the topic of her speech is financial stability, so there’s a good chance market participants will be disappointed, leaving the dollar to languish at present levels.
This post was published at Zero Hedge on Aug 25, 2017.
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