Some reduction in USD exposure ahead of Jackson Hole – Scotiabank

The USD is slightly softer overall to start the week off. Economists at Scotiabank analyze Greenback’s outlook. 

Markets look to Jackson Hole

It’s a very light week for data which may mean that markets will consolidate somewhat ahead of Friday’s Jackson Hole comments from Fed Chairman Powell.

After Friday’s consolidation session for the DXY, intraday losses so far are putting something of a negative spin on the charts for the index which may be a ‘tell’ that markets are leaning towards some reduction in USD exposure ahead of Jackson Hole in the event that Powell dials back the inflation rhetoric somewhat.