USD Rises for First Time in Five Sessions Ahead of Jackson Hole Event

The U.S. Dollar (USD) is close to registering its first rise this week, following four consecutive daily losses, with most investors turning their focus to tomorrow’s remarks by the Federal Reserve Chairman Jerome Powell in front of the Jackson Hole Economic Symposium.

Earlier today, the United States Bureau of Economic Analysis revised its estimates for economic growth during the second quarter upwards to 6.6% from an earlier forecast of a 6.5% increase in the gross domestic product (GDP).

The Dollar Index (DXY) that measures the greenback’s performance against a basket of six major international currencies is up for the day by 0.24% at 93.05.

The index has been moving today almost entirely in the positive territory in a range between 92.81 and 93.08, after closing yesterday at 92.83.