Dollar strengthened yesterday against other major currencies after the publication of the minutes the previous meeting of the Federal Open Market Committee of the Federal Reserve. The highlights of the protocols was that policy tightening may start earlier in case of significant progress in achieving the goals. In addition, in the Federal Reserve stated that the situation with incomplete workload on the labor market may be about to change. Downside risks to inflation are falling.
Despite the continued growth of the American dollar, investors are waiting for the main event of the week - the speech by the head of the Fed at the conference in Jackson Hole, during which Janet Yellen can tell more details about the future monetary policy of the United States. We expect further tightening of monetary policy by the Fed, which will negatively affect the US stocks and will strengthen the dollar.