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Jackson Hole Is Shaping Up to Be a Dud for U.S. Dollar Traders
The Federal Reserve’s eagerly awaited Jackson Hole symposium later this month may end up being a dud, at least in terms of its potential to sway currency markets. Euro/dollar implied volatility around the Aug. 26-28 event suggest smooth sailing, according to TD Securities’ Mazen Issa. Instead, investors may be waiting for the Sept. 3 U.S. payrolls report and Sept. 22 Fed rate decision to guide their currency positions, the strategist said. “We think the symposium may not have a whole lot to offer on USD direction,” Issa said. One-week implied volatility in the euro/dollar pair is down nearly a full percentage ... (full story)