Fed Chair Powell

Week Ahead: U.S. Dollar Drops After Powell Stresses Gradual Approach to Rates

Week Ahead: U.S. Dollar Drops After Powell Stresses Gradual Approach to Rates

The greenback was waiting for U.S. Federal Reserve Chair Powell’s speech at the central bank summit in Jackson Hole. Despite the market already pricing in two U.S. rate hikes in 2018, the somewhat dovish remarks from Powell did not add support to the U.S. dollar.

‘Footy’ dented U.K. retail sales and pounds sterling

‘Footy’ dented U.K. retail sales and pounds sterling

Data this morning from the Office for National Statistics showed that U.K. retail sales declined in June, as Britons chose to watch the World Cup rather than shop.

Here are five things the markets are talking about.