The dollar held near two-decade highs against other major currencies on Friday ahead of a widely anticipated speech by Federal Reserve Chairman Jerome Powell at a Jackson Hole symposium.<\/p>\n\n\n\n
Traders are awaiting indications about the Fed’s monetary tightening plans to curb inflation when Powell speaks at 1400 GMT.<\/p>\n\n\n\n
The dollar index, which measures the greenback’s performance against six major currencies, has risen steadily over the past two weeks and is very close to a two-decade peak of 109.29 recorded in mid-July. In the latest trading, it was stable at 108,470.<\/p>\n\n\n\n
The Fed will get two more major reports on inflation and more employment data before its September 20-21 meeting.<\/p>\n\n\n\n
In Europe, higher energy prices caused by Russia’s invasion of Ukraine lowered the economic outlook and weighed on the euro and the British pound.<\/p>\n\n\n\n
And the pound fell 0.5% to $1.17750, as the relevant regulators in Britain expected home energy bills to rise 80%, and warned of a \u201ccrisis\u201d that needed urgent government action.<\/p>\n\n\n\n
The euro rose 0.2 percent to $0.99865.<\/p>\n\n\n\n
The dollar rose 0.3 percent against the Japanese yen, which last traded at 136.900 yen to the dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar held near two-decade highs against other major currencies on Friday ahead of a widely anticipated speech by Federal Reserve Chairman Jerome Powell at a Jackson Hole symposium. Traders are awaiting indications about the Fed’s monetary tightening plans to curb inflation when Powell speaks at 1400 GMT. The dollar index, which measures the greenback’s …<\/p>\n","protected":false},"author":9,"featured_media":70959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[7211,6877,6928,6882],"class_list":["post-70956","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=70956"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70956\/revisions"}],"predecessor-version":[{"id":70961,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70956\/revisions\/70961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/70959"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=70956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=70956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=70956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}