Eyes on Jackson Hole as Dollar Drops Against Yen, Euro Keeps Rising

FOREX - SINGAPORE. The yen rose sharply on Monday and the euro touched its highest this year as the dollar retreated broadly with traders bracing for dovish signals from Federal Reserve meeting minutes and Chair Jerome Powell's speech at Jackson Hole.

The minutes of the Fed's July meeting, due on Wednesday, and Powell's speech on Friday are likely to be the main currency drivers in a week that will also see inflation data from Canada and Japan and Purchasing Managers' Index readings across the United States, euro zone and UK.