Forex
AUD Hits Three-Month Highs Ahead of Warsh's Jackson Hole Address
The Australian Dollar (AUD) has reached three-month highs against the US Dollar (USD), climbing to 0.7205 earlier in the day and currently trading at 0.7195.
This move comes as investors await the Federal Reserve's Jackson Hole Symposium, where Chairman Kevin Warsh is set to deliver a speech on monetary policy.
The market expects Warsh's address to provide insight into the Fed's guidance, following July's meeting which left investors with unclear expectations.
Analysts at MUFG/BTMU note that any explicit signal from Warsh on the policy path could trigger an outsized USD move, citing the high-uncertainty environment under a relatively new Chair.