Forex
Dollar Sees Gains Ahead of Jobless Claims and Jackson Hole Speeches
The US dollar has seen an uptick in value as traders wait for key economic data releases and speeches from Fed officials.
The gains came ahead of the release of initial jobless claims and July advance trade data, which are due at 8:30 am ET. This is a time when markets tend to be sensitive to US-driven rate expectations.
The dollar's rise has been seen against major peers, with EUR/USD slipping to 1.1639 and GBP/USD falling to 1.3578. Despite this, the move highlights how US-driven rate expectations can overpower local fundamentals in the short term.
Markets are likely to take their cue from US data surprises and the messaging of Fed officials, particularly Fed Chair Kevin Warsh's keynote speech at the Jackson Hole Symposium on Friday.