The dollar index hovered around 97.8 on Monday as investors awaited a pivotal meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy, while also looking ahead to the Federal Reserve's Jackson Hole symposium later this week.
Trump said he would press Zelenskiy to reach a quick settlement following his Friday talks with Russian President Vladimir Putin. While the meeting did not produce a ceasefire breakthrough, Putin agreed to allow the US and Europe to provide Ukraine with robust security guarantees as part of a potential deal to end the war.
In monetary policy, markets are pricing in an 84% chance of a 25 basis point Fed rate cut in September, though stronger-than-expected producer inflation and retail sales have reduced the likelihood of a larger 50 basis point move. Fed Chair Jerome Powell is expected to provide further guidance at Jackson Hole.
Source: Trading Economics
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