MARKET UPDATE 21-Aug-18

The forex market was seeing the U-S dollar loose some momentum amid latest remarks by Donald Trump. The president said that he was “not thrilled” with the Federal Reserve Chairman, Jerome Powell for raising interest rates, and he went on to accuse China and Europe of manipulating their respective currencies.

Australia’s central bank has struck an upbeat tune on the economy. However, it stressed the need for interest rates to stay at record lows as it hopes for further decline in the jobless rate and a revival in wage growth and inflation.

Meanwhile, traders will be closely watching this week’s Jackson Hole symposium for clues on monetary policy, and to see whether central bankers can do anything to help bring back stability after the recent bout of emerging market-led volatility.

FX Rates 21.08.18

 

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