The Greenback managed to regain composure and leave behind part of the recent multi-day bearish move, which was accentuated following Chair Powell’s speech at Jackson Hole.
While an interest rate cut by the Fed in September looks largely priced in, there are still significant data releases that could either reinforce that move or undermine it. Here is what you need to know on Tuesday, August 27: The US Dollar Index retreated to new lows near 100.50 earlier on Monday, just to reverse that move and rebound to the proximity of the 101.00 barrier later in the day.
USD/JPY alternated gains with losses after briefly dropping to three-week lows near 143.40 on the back of rising US yields and a decent bounce in the US Dollar. The next data release on the Japanese docket will be the final Coincident Index and Leading Economic Index on August 28. The resurgence of the upside impulse in the Greenback favoured some selling pressure in the risk-associated space, motivating AUD/USD to give away some of its sharp advance seen last Friday.
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