The Financial Express

Dollar inches higher ahead of Jackson Hole meeting

| Updated: October 24, 2017 13:35:42

Evaly and Fianancial Express Evaly and Fianancial Express
Dollar price inches higher

The dollar inched higher against a basket of currencies on Tuesday, with traders focusing on the annual central banking conference in Jackson Hole this week for insights into the outlook for monetary policy.


The dollar index, which measures the greenback's value against a basket of six major currencies, edged up 0.1 per cent to 93.169, reports Reuters.


The dollar rose 0.3 per cent to 109.26 yen JPY=, pulling away from last week's low near 108.60 yen, which was the greenback's weakest level in about four months.


The euro slipped 0.1 per cent to $1.1808 EUR=.


Investors are awaiting remarks from European Central Bank President Mario Draghi due on Friday at Jackson Hole, although whether his comments will provide any fresh impetus for euro buying is uncertain.


Draghi will not deliver a new policy message at the symposium, two sources familiar with the situation have said, tempering expectations for the ECB to start charting the course out of its monetary stimulus.

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