Mitsubishi UFJ: Dollar Faces Downside Risk Ahead of Powell and Yellen Speeches

BlockBeats News, August 24th, Mitsubishi UFJ Financial Group strategist Derek Halpenny stated in a report that the US dollar faces downside risks ahead of Treasury Secretary's Yellen speech and the Fed's Jackson Hole Symposium.

The US Treasury announced last week an increase in the size of long-term bond repurchases, and Yellen may later disclose information about the fiscal consolidation plan. Fed Chair Powell is scheduled to speak on Friday at Jackson Hole.

Halpenny said that Powell may continue to provide fewer signals about future policies, "If credible fiscal consolidation measures are still not announced by then, the bond market's long end may be particularly impacted."