As markets gear up for the much anticipated address by Janet Yellen at the Jackson Hole symposium on Friday, Nick Beecroft, Chairman of Saxo Capital Markets explains that it could prove to be a "good day for the US dollar". There's said to be keen interest in what the Fed Chair might hint on future rate rises in the States although many traders are losing patience at the lack of any concrete news. 

Nick says it looks like the committee is "coming around" to the view that the labour market in the US is getting better and that the downside risks of inflation are diminished. What's more, minutes released from the Fed's July meeting showed that officials discussed raising interest rates sooner rather than later. 

But the Fed is not the only central bank in focus this week. We learned this week that The Bank of England is now split on whether it should raise rates quickly.  
Nick thinks that Carney could in fact be laying the ground for a rate hike, and thinks there's a 10 percent chance this will happen in September, and 20 percent chance in October. As a result, he plans to be long sterling - in particular against the euro where he says rates are not moving "any time soon".

But he says investors in general are getting "tired of waiting" when it comes to rate talks in the US and the UK. He thinks we have "enjoyed" low levels of rates for six years and says it will be a significant point in time for markets when they start to move upwards.