Dollar inches lower as investors await Yellen's Jackson Hole speech

  • 2/5/2023
  • 16:09
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NEW YORK, Dhu-AlQa'dah 22, 1437, Aug 25, 2016, SPA -- The dollar slipped on Thursday as some investors squared positions before the annual global central bankers' gathering in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen may offer new guidance on U.S. monetary policy, Reuters reported. Recent upbeat statements on the U.S. economy by Fed officials including Vice Chairman Stanley Fischer and New York Fed President William Dudley have prompted investors to raise bets interest rates will increase sooner rather than later. Some believe Yellen could echo their signals. data on Thursday added to the bullish outlook on interest rates, with a 1.6 percent rise in a key measure of U.S. durable goods orders for July and a fall in initial weekly jobless claims. After the release of the U.S. data, futures markets were indicating a 24 percent chance the Fed will hike rates at its policy meeting next month and a roughly 57 percent chance of an increase in December, according to the CME Group's FedWatch. -- SPA 23:12 LOCAL TIME 20:12 GMT www.spa.gov.sa/w

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