Dollar hits 5-week high on hawkish Fed before Jackson Hole
“Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won,” rattling markets ahead of Jackson Hole on Aug. 25-27, amid growing expectations for Fed Chair Jerome Powell to stress that tightening is “still a long way from the end,” Rodrigo Catril, senior FX strategist at National Australia Bank, wrote in a client note.
