The dollar index climbed above 98.2 on Tuesday, extending the previous session's gains as investors focused on a pivotal summit between President Donald Trump and European leaders aimed at ending the war in Ukraine.
During the talks, Trump discussed potential security guarantees for Kyiv and announced follow-up meetings involving Russian and Ukrainian leaders, which he will later on attend. Ukrainian President Volodymyr Zelenskiy said Ukraine has offered to purchase about $90 billion worth of US weapons as part of the guarantees, with details expected to be finalized within ten days.
On the monetary policy front, markets are also looking ahead to the Federal Reserve's annual Jackson Hole symposium later this week for signals on the path of interest rates. Fed Chair Jerome Powell is scheduled to discuss the economic outlook and the central bank's policy framework. The dollar recorded its strongest gains against the euro and the yen.
Source; Trading Economics
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