Greenback sticks to range as Yellen speech awaited

August 25, 2016

On Thursday, the major American currency happened to be range-bound during illiquid Asia trade as key currencies kept treading water ahead of the global major bankers' gathering in Jackson Hole, Wyoming, at which Fed Chair Janet Yellen might offer fresh clues on American monetary policy.

Fed officials including Vice Chairman Stanley Fischer along with New York Fed President William Dudley have recently helped some traders to lift their bets that the Fed is braced for rate hikes again sooner rather than later, while some financial analysts foresee Yellen will echo their signals.

On Wednesday, futures markets were indicating an 18% probability that the American major financial institution would lift rates at its policy gathering next month, and an approximately 50% chance of a rate hike in December, as CME Group's FedWatch states.

A portion of the financial market is currently expecting hawkish overtones after Dudley.

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