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Currency Markets on Hold: 79% Odds of September Rate Cut Keep Dollar Steady

The U.S. dollar remained flat Thursday as investors await Fed Chair Jerome Powell’s Jackson Hole speech on Friday for policy direction.

Markets are pricing in a 79% chance of a September rate cut, down slightly from earlier expectations.

President Trump’s renewed attacks on the Fed, including calling for Governor Lisa Cook’s resignation, have raised concerns about central bank independence.

The dollar index held steady at 98.337, while major currencies showed little movement despite the U.S.-EU trade deal confirmation with 15% tariffs on most European imports.

Original Source: Reuters

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