Investors were also looking to Wednesday's release of minutes from the U.S. Federal Reserve's August meeting and a speech by Fed Chairman Jerome Powell on Friday for clues on future rate hikes. Interestingly, we've also seen US President Trump chime in on monetary policy, noting in a meeting with donors that Powell and Company were raising interest rates too aggressively.
The president spooked investors in July when he criticized the USA central bank over tightening monetary policy.
"They are just trying to gauge if there has been any shift in sentiment at the Fed and it certainly doesn't seem that way at the moment", said Gennadiy Goldberg, an interest rate strategist at TD Securities in NY.
"Most Fed-watchers are of the view that Powell is emphasising the need for financial stability and with a positive USA economic backdrop is obliged to tighten policy".
In an interview with American Public Media's "Marketplace" radio show in July, Powell said he was "deeply committed" to maintaining the Fed's tradition of preserving its independence from political concerns.
Scott's account is significant because Powell is under increasing White House pressure to back down from his goal to slowly raise interest rates.
In the next few days, United States dollars is likely to be influenced by both the minutes of the latest meeting of the USA policy-setting Federal Open Market Committee, due later Wednesday, and by comments by Federal Reserve Chair Jerome Powell at the Jackson Hole central banking symposium Friday.
Lorber's fundraiser pulled in about $3 million for the Trump Victory Committee, which fills the coffers of the president's re-election campaign and the GOP.
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Trump's comments come a month after he said on CNBC, "I'm not thrilled" that the federal reserve was increasing borrowing costs at the risk of slowing economic growth. "We strongly doubt that the Fed will change its policy approach based on his cajoling", says Paul Ashworth, chief USA economist at Capital Economics.
The Fed has increased raised interest rates twice this year and is expected to do so again next month. "And to the extent it becomes politicized, like unfortunately so many other things around here have over the past year and a half, that would be a very negative place for our country to go", Corker said.
"Dealers are optimistic about the trade talks between the USA and China, despite the less cheery tone from Washington DC and Beijing", said market analyst David Madden at CMC Markets UK.
Asked if he believed in the Fed's independence, Trump said: "I believe in the Fed doing what's good for the country".
The Fed declined to comment, but former Fed officials expressed alarm at Trump's repeated criticism.
"Am I happy with my choice?"
The president said that he was told by advisers that Powell liked "cheap money" before he chose him to run the Fed, according to the Wall Street Journal. "I'll let you know in seven years".