-
Narrowly Mixed Greenback in Summer Churn
The US dollar is going nowhere fast. It is narrowly mixed against the major currencies. The market awaits for fresh trading incentives, with much hope placed on Yellen's presentation at Jackson Hole at the end of the week. Is it too early to suggest that the build-up ahead of it is too much? First, to the extent that she addresses the current economic situation, it is unreasonable to expect it to differ from the general thrust of both Fischer and Dudley. The resilience of the labor market and the economy are recognized. Core inflation is not far from the 2% target. The market and the economy appear to have weathered ... (full story)