FXStreet (Łódź) - The eFXnews team comment that Barclays Capital stresses the importance of the Jackson Hole Symposium, due to kick off on Friday, which could provide some more details on the Fed's monetary policy plans.

Key quotes

"The highlight will likely be Fed Chair Yellen’s keynote speech at the Jackson Hole Symposium at 10am Friday EST."

"After seeing the latest Quarterly Inflation Report(QIR) from the BoE, there is some expectation that the Fed will follow the suit, emphasizing the degree of slack in the economy and signaling to the market that is in no rush for a policy rate hike and the pace of eventual policy normalization will be gradual."

"While the market is already looking for a fairly dovish policy path in the coming years, the USD is likely to remain under pressure in the near term if she reiterates her well-known view on the US labor market and benign inflation outlook."

"Beyond the near term, we continue to expect the USD to move back to a clear upward trend into year-end, as we maintain our long-held view that slack in the US labor market is much smaller than the Fed believes and wage growth will pick up steadily in H2 as the labor market continues to improve."

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