Markets Ready for Swings After High-Rates Mantra of Jackson Hole
- Policy-sensitive Treasury yields rose on Powell comments
- Yen fell to November lows against dollar during Jackson Hole
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Traders are girding for a cautious start to the week after US and European policymakers signaled interest rates will likely stay higher for longer during their annual confab at Jackson Hole.
While the Australian dollar and the yen were little changed as trading got underway in Sydney, the Japanese currency lingered near its weakest this year. Australian bonds saw a muted start as investors also absorbed China’s latest efforts to support its equities market.