Asian shares go down, greenback stands tall
On Monday, Asian shares tumbled, while the greenback pulled away from the previous week's minimums on hopes that a signal might emerge from a Fed gathering this week in Jackson Hole, Wyoming that the major American financial institution is about to raise its interest rates.
Global central bankers are going to join the annual mountain retreat, which opens on Thursday. Fed Chair Janet Yellen is expected to deliver a speech the following day.
On Sunday, Stanley Fischer, Fed Vice Chairman gave rather an optimistic assessment of the American economy's current strength, telling that the job market was close to full strength and even still improving.
The national economy is very close to its targets, as Fisher states. However, he didn’t directly address the timing of when the American major financial institution should next lift interest rates.
The previous week, William Dudley, New York Fed President told that a rate lift would be already possible in September.