Trump-Zelensky Talks Lift Dollar Before Jackson Hole

The dollar edges higher as I watch markets closely ahead of the Fed’s Jackson Hole symposium. The dollar index climbs above 98.1, lifted by both geopolitical developments and shifting rate cut expectations.

At the White House, President Trump meets with Ukrainian President Volodymyr Zelensky, striking an optimistic tone about peace talks and pledging U.S. involvement in maintaining stability. Trump says he will call Putin after the talks, but for now, no breakthrough has been made.

On the policy front, markets are still pricing an 84% chance of a 25-basis-point Fed cut in September. Producer inflation and retail sales surprised to the upside, tempering bets on a larger 50-basis-point move. All eyes now turn to Jerome Powell at Jackson Hole for clues on the Fed’s next steps.

For me as a trader, the mix of geopolitical risk and monetary policy uncertainty means volatility remains the theme. I’m watching the dollar carefully here, with opportunities in major FX pairs as headlines unfold.

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