Dollar reverses slump as market plumbs murky Fed direction

Dollar reverses slump as market plumbs murky Fed direction

Forex Trade

NEW YORK: The dollar gained in forex trade Friday as markets plumbed the
murky direction of the Federal Reserve’s interest rate plans.

The dollar pulled up to 100.20 yen and $1.3080 against the pound, and
pushed to $1.1324 against the euro.

There were still doubts that the Fed could raise rates in September despite two
central bank officials pointedly reminding of the possibility over the past week.

A week before US and foreign central bankers gather for the Fed’s annual symposium
in Jackson Hole, Wyoming, the Fed clearly remains unsettled about the disjunction between
the strong jobs market and persistently weak inflation.

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