Markets have been effectively looking ahead to Janet Yellen’s speech at Jackson Hole now for several days. There may have been some minor moves back and forth in the markets in recent days but as we get closer to the event there is a degree of consolidation that has taken over. Mild dollar strength of the earlier part of the week is being pared with uncertainty over how Yellen will approach her speech on monetary policy at 1500BST. Traders looking for an explicit point towards September for the Fed’s next rate hike are likely to be disappointed. Yellen does not like to rock the boat and with the Fed having been so ... (full story)