- Analytics
- News and Tools
- Market News
- Powell to support the dollar but without providing a catalyst for any notable gains – MUFG
Powell to support the dollar but without providing a catalyst for any notable gains – MUFG
The US dollar was mostly weaker yesterday versus G10. Today, it is hard to see a big jump in FX vol on FOMC Chairman Jerome Powell's speech at the annual Jackson Hole Symposium, in the view of economists at MUFG Bank.
Fed officials set the tone for Powell
“It feels like there’s certainly a consensus for at least another 125 bps of tightening this year. Fed President Bullard also spoke and cited frontloading and getting the fed funds to 3.75%-4.00%.”
“We can’t see Fed Chair Powell providing the grounds for a big move in rates. He is unlikely to commit to a size of move for the September FOMC and is more likely than not to imply implicitly that current market pricing seems reasonable.”
“We’d expect Powell to have a hawkish bias similar to other speakers this week which will help support the dollar without providing a catalyst for any notable gains from current levels.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
