• The index extends the corrective move to 103.30.
• US yields kicks off the week in a positive tone.
• Markets’ attention will be on the Jackson Hole event.

The greenback extends the bearish note into the beginning of the new trading week and drags the USD Index (DXY) to the 103.30 zone.

USD Index focused on Jackson Hole, Powell

The index continues to correct lower following last week’s fresh monthly peaks near 103.70 (August 18) amidst the generalized improvement in the risk-associated universe.

The dollar, in the meantime, seems to have met an initial decent resistance near 103.70 against the backdrop of the relentless march north in US yields across the curve as well as increasing speculation that the Federal Reserve might keep the tighter-for-longer stance for an extended period.

There will be no data releases in the US docket on Monday, while market participants are expected to remain focused on the Jackson Hole Symposium as well as Chief Powell comments due in the second half of the week.