The US Dollar (USD) is slightly down in the Asian trading session at the start of the week. The US Dollar Index (DXY), which gauges the Greenback’s value against its peers, corrects 0.1% to near 99.58 after a strong Friday.
The Greenback gained strongly on Friday as remarks from Federal Reserve (Fed) Chairman Kevin Warsh at the Jackson Hole Symposium signaled that the central bank remains committed to bringing inflationary pressures down to the 2% target, lifting expectations of an interest rate hike in the September policy meeting.
“This summer’s inflation data was better than expected, but do not tell me underlying trends have meaningfully changed,” Fed Chair Warsh said and added, “Fed’s predominant focus right now should be on prices.”
According to the CME FedWatch tool, the odds of the Fed leaving interest rates again in the September meeting have diminished to 39.4% from almost…
