The US dollar holds steady ahead of the Jackson Hole meeting, while the yen shows a muted reaction to central bank officials' remarks.

智通财经2026/08/27 06:51

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On Thursday during the Asian trading session, the US Dollar Index held steady at 99.13 ahead of the Jackson Hole Global Central Bank Annual Meeting, remaining at the eight-day high reached overnight. The US July PCE price index rose 3.7% year-on-year, slightly above the expected 3.6%, causing expectations for a Fed rate hike before the end of the year to persist, though traders remained on the sidelines ahead of Waller’s speech.
Westpac Bank economists pointed out that Waller’s upcoming speech at Jackson Hole will be the “ultimate test” for judging the Federal Reserve’s policy path.
On Thursday, Bank of Japan Deputy Governor Shinichi Himino stated that timely rate hikes can help avoid a sharp rise in inflation and prevent the need for aggressive tightening in the future. However, he did not use explicit language to signal a rate hike as he did before the January 2025 meeting, leaving the market without clear guidance.
The US dollar remained steady against the yen at 159.35, showing no significant reaction to Himino’s remarks. Currency market data indicates that expectations for a Bank of Japan rate hike in September remain high at 86%.

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