Dollar Steady Ahead of Jackson Hole as Yen Holds Firm
The U.S. dollar traded steadily Thursday ahead of the Jackson Hole symposium, while the yen remained largely unchanged after Bank of Japan Deputy Governor Ryozo Himino's comments.
Himino expressed concern about upside risks to prices but stopped short of explicitly signaling a rate hike next month, which had been anticipated by some market participants. Totan Tanshi, a money market broker, had priced in an 86% chance of a BOJ hike next month.
The euro was up 0.05% against the dollar at $1.1655, while the British pound eased 0.05% to $1.3586. The Australian dollar strengthened 0.18% versus the greenback to $0.718.
Despite the lack of a clear signal from Himino, market analyst Sho Suzuki noted that appearances by board members leading up to the BOJ's upcoming September 17 and 18 meeting could still influence expectations for a rate hike.