Traders may want to circle Sept. 19-20 on their calendars, when the International Monetary Fund has its annual meeting; also, the U.S.’s FOMC meeting will be held on Sept. 20.
The IMF meeting will include a gathering of the G-7 Finance Ministers. The last meeting in late April triggered a huge dollar sell-off from April into May.
“The finance ministers focused on the need for more FX flexibility in Asia,” Powell says.
Also, many analysts expect the Fed to leave U.S. interest rates unchanged at its September meeting.
“If they were to hike, it would be a big surprise and the dollar would rally,” Powell says.
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