Dollar Halts 2-Day Gain as Sentiment Swings Before Yellen Speech
- Greenback declines versus yen, fluctuates versus major peers
- U.S. currency is on pace to post its worst year since 2007
The Look Ahead to Yellen's Speech
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The dollar halted a two-day advance against the yen as investors reassessed the outlook for U.S. monetary tightening before this week’s speech by Federal Reserve Chair Janet Yellen.
The U.S. currency fluctuated against its 16 biggest counterparts before Yellen speaks Aug. 26 at an annual symposium in Jackson Hole, Wyoming. A gauge measuring the performance of the dollar traded close to a three-month low reached last week and left this year’s loss at 5.1 percent, on track for the worst year since 2007.