Dollar Stalls After Jackson Hole, Shifts Focus to FX Crosses
Global financial conditions have tightened after Federal Reserve Chair Kevin Warsh's keynote address at the Jackson Hole Economic Symposium on August 28, 2026. The US Dollar Index remains range-bound despite a hawkish Fed repricing, with potential stronger macro risk/reward opportunities shifting to FX crosses.
The AUD/NZD and GBP/JPY currency pairs have retained bullish configurations since rebounding from their 200-day moving averages. They hold above key technical support levels, suggesting that major uptrend phases may still be intact.
Conversely, EUR/AUD, EUR/GBP, and CHF/JPY retain bearish technical biases due to downside momentum and key resistance levels limiting their recoveries. The EUR/GBP has oscillated within a nine-month downtrend since the November 14, 2025 high of 0.8865.
The US Dollar Index has entered a potential broad sideways chop near key resistance at 100.54, caught between higher US short-end yields and offsetting bets on tighter policy across select G10 central banks.