Robust US Economy to uphold continued US Dollar strength

Daily Currency Update

Traders anticipate that the present strengthening of the U.S. dollar will persist due to the improved state of the US economy and the potential challenges to the ongoing narrative of decreasing inflation and a 'soft landing' for the US economy.

Historically, the US dollar has tended to experience upward movement in the month of August more frequently than not. This optimistic seasonal pattern appears likely to occur again this year.

Investors are now awaiting the speech of the Federal Reserve chair during the Jackson Hole Symposium this week, hoping for insights into the future direction of monetary policy.