NEW YORK ( TheStreet) -- As investors await Janet Yellen's comments at the Federal Reserve's annual symposium in Jackson Hole, Wyo., it could be currency fluctuations overseas that tell the most about the future direction of U.S. equities.
Investors are looking to a statement from Yellen, the Fed's chairwoman, for clues about whether the Fed will continue to keep interest rates low as the U.S. economy gradually improves.
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Analysts, however, tend to have a difficult time coming to a consensus on whether comments from the Fed lean more dovish or hawkish, unless specific language is used.
Investors may be better suited looking at movements in the U.S. dollar/Japanese yen currency pair following Yellen's comments to gauge the market's reaction.
FXY data by YCharts
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