The dollar strengthens the position before Powell\’s performance

American dollar resumed growth against the main competitors in the Forex market. The reinforcement driver is the expectations of further tightening of the monetary and credit policy of the Fed after the release of strong data from the US labor market and persisting inflation risks (the current level of 8.5% in annual terms).

, according to FOMC protocols published on August 17, Federals officials are ready to continue to increase the discount rate this year, and at the nearest September meeting, the increase in the increase can be 75 again basic points.

this week, investors will monitor the news coming from the annual symposium of the world Central Bank in Jackson-Houl. In the focus of the players is the performance of the head of the Fed Jerome Powell, planned for Friday August 26, 17.00 Moscow time. During this period, increased volatility of the market is traditionally expected, which can strengthen the position of the dollar against the background of the hawk comments of the regulator. The EUR/USD pair EUR/USD is approaching the annual minimums 0.9950 as part of a large bear trend. Breakthrough below will accelerate the fall of quotations in the area 0.9700.