The dollar recovered some losses after Kansas City Fed President Schmid stated that current interest rates remain accommodative.
DXY rose about 0.3% to 99.158 on Thursday, recouping some of last week's losses, as investors focused on the Federal Reserve's policy path ahead of the Jackson Hole Symposium. This followed data showing higher-than-expected inflation in July, reinforcing expectations that interest rates could remain restrictive until the end of the year. Kansas City Fed President Schmid stated that the current central bank interest rate setting is not restrictive to the economy, suggesting he still favors rate hikes to bring inflation back to 2%.
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