"China's Disappointment Boosts Dollar as Traders Shift Focus to Jackson Hole"

The US dollar started the week strong, continuing its five-week streak of gains, as investors awaited guidance from the Federal Reserve's Jackson Hole symposium on future interest rates. The dollar made gains against the euro, yen, and Antipodean currencies as US Treasury yields rose. The Australian and New Zealand dollars were slightly lower after China's rate cut fell short of expectations. The yuan slid to the weak side of 7.3 per dollar, while the yen remained steady. The upcoming Jackson Hole symposium and news of stimulus in China are the major focus for markets, which may set the direction for US yields. Bitcoin nursed losses at $26,129.