Five Currency Pairs to Watch as US Dollar Stalls After Jackson Hole

The US Dollar has stalled after the Jackson Hole meeting, and market analysts are watching five currency pairs closely in September. Kelvin Wong for OANDA highlights these key pairs to monitor.

Wong notes that the dollar index (DXY) has been stuck at around 108-110 levels, and its inability to break through this range is a sign of weakness. This weakness could lead to further depreciation against other major currencies.

The five currency pairs to watch in September are:

- EUR/USD: The pair has been trading in a narrow range and may see some movement as the dollar weakens.

- GBP/USD: As the UK economy faces challenges, the pound may continue its downward trend against the US dollar.

- USD/JPY: With Japan's central bank keeping interest rates low, the yen could appreciate further against the dollar.

- AUD/USD: The Australian dollar has been impacted by the country's high inflation rate and may see more weakness against the US dollar.

- NZD/USD: Similar to Australia, New Zealand's economy faces challenges, which could lead to a decline in its currency value against the US dollar.