If inflation starts climbing again after a rate cut, “the Fed will have to reverse course — and in the worst case, start hiking again,” Slok said.

At the time of writing, USD/CHF is trading near 0.8003, down almost 1% on the day after briefly touching 0.8104, its highest level in nearly two weeks, before reversing to its lowest in around three and a half weeks.

The FTSE 100 and European stocks were higher on Friday as markets turn their attention to the much-anticipated speech by US Federal Reserve chair Jerome Powell. He is set to speak

The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium later this week for clues on the monetary policy path.

Gold price jumped to one-week high on Friday, in immediate reaction to the speech of Fed Chair Jerome Powell at the Jackson Hole symposium.