Currency Markets Steady As Traders Await Fed Communications
It’s quiet. Too quiet. Most major currency pairs remain trapped in tight price ranges this morning as volumes fall, but the dollar is firming slightly as traders hedge themselves against an unexpectedly-hawkish message from Jerome Powell at Friday’s meeting in Jackson Hole, and Treasury yields are pushing modestly higher. Although technology stocks are paring their losses after yesterday’s swoon, broader equity indices look set to print slightly lower at the open. The British pound is almost unchanged even after inflation climbed to an 18-month high, topping market forecasts and seemingly complicating the Bank of England’s easing plans. According to an...