US Dollar: Jobs data to test hawkish Fed repricing - BNY
BNY’s Geoff Yu highlights that recent U.S. inflation data left the macro narrative intact, but Fed Chair Kevin Warsh’s Jackson Hole speech pushed markets to reprice September hike odds and lifted the Dollar. The focus now shifts to U.S.
Recent U.S. inflation data left the macro narrative largely unchanged, but Fed Chair Kevin Warsh's Jackson Hole speech shifted markets to price in a higher likelihood of a September interest rate hike, boosting the U.S. Dollar. The focus now turns to U.S. JOLTS, ISM surveys, and particularly nonfarm payrolls, which will determine if the hawkish repricing and steady U.S. economic growth can be maintained.
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