The US dollar strengthens on robust economic data as investors focus on Powell's speech

According to ChainCatcher, citing Jinshi News, ahead of Federal Reserve Chair Jerome Powell’s upcoming speech at the Jackson Hole Symposium, investors have digested stronger-than-expected U.S. economic data, leading to a stronger dollar. The U.S. PMI released on Thursday exceeded expectations, boosting the dollar. Deutsche Bank analysts noted that this data has prompted investors to lower their expectations for Fed rate cuts, resulting in a sense of “nervousness” among investors before Powell’s speech. The analysts pointed out that investors will be closely watching whether Powell places greater emphasis on the weak employment data.