Dollar soft as traders look to Jackson

TOKYO (Reuters) – FX Signals – The dollar held near a one-week low on Thursday with investors eyeing the Fed’s Jackson Hole symposium for clues on the timing of a tapering of monetary stimulus.

The dollar index, which measures the currency against six rivals, edged up 0.08% to 92.891, but still close to Thursday’s low of 92.801, a level not seen since Aug. 17.

The greenback has softened since Dallas Fed President Robert Kaplan, among the U.S. central bank’s most forceful advocates for starting to reduce support for the economy, said last Friday that he may need to adjust that view if the coronavirus slows economic growth materially.

At the same time, demand for the dollar as a haven waned as investor optimism rose that the Delta coronavirus variant won’t derail a global recovery. The U.S. Food and Drug Administration fully approved the COVID-19 vaccine made by Pfizer (NYSE:PFE) and BioNTech on Monday, with others to follow shortly, in a move that could accelerate U.S. inoculations.

U.S. yields rose overnight, with that on the benchmark 10-year Treasury note hitting 1.352% for the first time since Aug. 13.

The dollar ticked up 0.15% to 110.16 yen, another safe haven currency, meandering near the centre of its trading range since early July.

Against the euro, the dollar was little changed at $1.1771, after touching a one-week low of $1.1775 the previous day.

Before Kaplan’s comments, Fed officials had been signalling that a taper this year was most likely, helping buoy the dollar index to a 9-1/2 month high of 93.734 last Friday.

Live Forex News

Some analysts even suggest a delay itself could strengthen the dollar.

“While this would be a USD negative factor on one hand, Delta worries may simultaneously increase the safe-haven appeal for the USD,” Jane Foley, a strategist at Rabobank, wrote in a research note.

“While pullbacks are likely to be par for the course, we see scope for EUR/USD to head towards $1.16 on a six-month view.”

Dollar soft as traders look to Jackson

US Dollar Index Up but Near One-Week Low, COVID-19 Fears

Dollar mired near two-and-half year low

Dollar soft as traders look to Jackson

Forex Signals Learning Guides, to help you get started with trading. Grow your Learning knowledge on the capital markets. URL FxPremiere.com was Founded in 2010. Since then has grown with over 23,000 live subscribers globally. Daily Trading Alerts are sent by our VPS Networks worldwide via Telegram. Subscribe to our Signals and start receiving Forex Day Trading Signals from the very next trade! Forex Signals Learning Guides below with guide you with every trade you make!

FxPremiere Group has helped over 5,000 Forex Affiliates earn up to $800 CPA on referrals and has grown immense revenue streams for online affiliates. Trading Forex has never been easy. The World of Forex Trading is growing day by day and its crucial to keep up to date with trends and market analysis. Here at FxPremiere Group we keep you updated with the Compare Forex Brokers charting system, as well as sending you Direct Forex Signals by our Telegram Services globally daily.

Forex Signals Brief for May 22nd US-China Tensions Reemerge

FX Signals

The most traded pairs of currencies in the world are called the Majors.EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD, Gold, Oil and many many more… Forex Trading comes with it high risk. We help by referring only the very best forex brokers available in the marketplace. Your in safe hands with our partners.

Forex Signals – AUD/USD – Markets eye data

With our free forex learning guides you will be able to educate yourselves with the most up to date forex basics required in order to enter the Capital Markets. FxPremiere.com Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms.