HomeLatestU.S. dollar slips forward of Fed chair's speech

U.S. dollar slips forward of Fed chair's speech

NEW YORK, Aug. 25 (Xinhua) — The U.S. dollar weakened in late buying and selling on Thursday as merchants assessed the Federal Reserve’s coverage path ahead.

The dollar index, which measures the buck in opposition to six main friends, decreased 0.19 % to 108.4670.

In late New York buying and selling, the euro was as much as 0.9973 U.S. {dollars} from 0.9965 {dollars} within the earlier session, and the British pound rose to 1.1828 U.S. {dollars} from 1.1788 {dollars} within the earlier session. The Australian dollar elevated to 0.6978 U.S. {dollars} from 0.6906 U.S. {dollars}.

The U.S. dollar purchased 136.46 Japanese yen, decrease than 137.09 Japanese yen of the earlier session. The U.S. dollar fell to 0.9635 Swiss franc from 0.9670 Swiss franc, and it fell to 1.2937 Canadian {dollars} from 1.2976 Canadian {dollars}.

Fed Chairman Jerome Powell is anticipated to talk on Friday on the central financial institution’s Jackson Hole symposium. Traders can pay shut consideration to it to search for clues on the Fed’s future rate of interest path.

“We think the outlook is still too uncertain for the Fed to pivot policy, as the recent encouraging trends in the data may not be sustained over the medium term,” Mark Haefele, chief funding officer at UBS Global Wealth Management, stated in an evaluation on Thursday.