Market News
Dollar steady before Jackson Hole, kiwi drops on dovish RBNZ - REUTERS
By Samuel Indyk and Kevin Buckland
Summary
- Traders focused on whether Powell pushes back on easing bets
- Markets lay 84% odds on a Fed rate reduction next month
- NZ dollar at 4-month low as RBNZ flags further rate cuts
LONDON, Aug 20 (Reuters) - The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium later this week for clues on the monetary policy path.
The New Zealand dollar tumbled after the central bank reduced its cash rate by a quarter point to 3.0% as expected, and said its board had also considered a half-point cut.
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The dollar index , which measures the U.S. currency against six others, was flat at 98.319, after earlier touching a more than one week high of 98.441.
