Dollar pushes higher as markets await Jackson Hole
Tuesday,
22-Aug-2017
02:58 PM (IST)
The dollar pushed higher against a basket of the other major currencies on Tuesday as investors awaited the annual gathering of central bankers in Jackson Hole later this week for clues on how policymakers view the economy.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.23% to 93.22.The dollar was higher against the yen, with USD/JPY climbing 0.4% to 109.42, pulling back from last week's low of 108.59, which was the weakest level in four months.The greenback has weakened in recent sessions amid renewed investor concerns about the Trump administration's ability to deliver on its economic policy agenda.Persistent doubts about the prospects for a third interest rate hike by the Federal Reserve this year have also fed into dollar weakness.
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