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Currencies: Dollar recovers, but remains hemmed in ahead of Fed’s Jackson Hole retreat

A resurgent dollar scratched its way higher against chief rivals on Tuesday, albeit in thin trading conditions, ahead of what could be a refreshed perspective on global monetary policy this week when the Kansas City Federal Reserve Bank hosts its annual Jackson Hole, Wyo., retreat.

The dollar struggled for direction to start the week as investors trained their attention on political tensions, including a refocus on drama on the Korean Peninsula, which pushed so-called haven currencies like the Japanese yen and the Swiss franc higher. But stock gains on Tuesday and relatively little new escalation on the Korean front gave the dollar some reprieve.

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