The dollar strengthened due to strong economic data, and investors are focused on Powell's speech

ChainCatcher news, according to Jinshi reports, ahead of Federal Reserve Chairman Powell's speech at the Jackson Hole annual meeting, investors digested stronger-than-expected U.S. economic data, leading to a stronger dollar. The U.S. PMI released on Thursday exceeded expectations, boosting the dollar. Deutsche Bank analysts stated that this data prompted investors to lower their expectations for a Fed rate cut, causing investors to feel "nervous" before Powell's speech. Analysts noted that investors will closely watch whether Powell places more emphasis on the weak employment data.