HONG KONG: Markets sank on Monday and the dollar rallied on renewed concerns about the Federal Reserve's (Fed) plans to ramp up interest rates to combat runaway inflation.
All eyes are on a symposium in Jackson Hole, Wyoming, where Fed Chairman Jerome Powell will deliver a speech that traders will follow for an idea about the United States central bank's next moves.
A currency trader reads a document at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea on Monday, Aug. 22, 2022. AP PHOTO