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Dollar near eight-day high as US data lifts Fed hike bets
TOKYO: The dollar held near an eight-day high on Thursday after US inflation and other economic data slightly lifted expectations of a Federal Reserve rate hike, ahead of the Jackson Hole central bankers' symposium due to begin later in the day.
GlobeSignal-AImedium certainty
- Why it matters
- Stronger dollar makes US exports more expensive for foreign buyers and reduces returns on US investments held overseas, directly affecting companies and investors with international exposure.
- Most affected
- US exporters — Face higher prices for foreign customers, potentially reducing competitiveness abroad.
International investors holding US assets — See returns diminished when converted back to their home currencies. - Likely next
- Whether the Fed signals a rate hike at the Jackson Hole symposium later in the day.
Also reported by: CNA