Dollar Rises As Trump Hosts Zelenskiy, Markets Focus On Powell At Jackson Hole Symposium

The dollar edged higher Monday as investors awaited Trump’s meeting with Ukraine’s Volodymyr Zelenskiy and European leaders, according to Reuters. Attention also turned to the Federal Reserve’s Jackson Hole symposium. The euro slipped 0.2%, the yen weakened, and the pound dipped 0.1%. Traders pared back bets on a September rate cut, with money markets pricing in an 83% chance of a quarter-point move after strong U.S. wholesale and retail data. Fed Chair Jerome Powell is expected to avoid signaling a clear path while balancing inflation above target with a slowing labor market. The dollar rose 0.1% against a basket of peers but remains down 9.5% in 2025.