There is a lot of pressure on Janet Yellen to increase the interest rates. Market analysts are taking support of the last few month economic data that shows a strong US economic recovery in their argument for an interest rate increase. US employment figures are good but Janet Yellen thinks that these employment figures are not painting the whole picture. The interest rate increase is expected somewhere in Mid 2015. Always keep this thing in your mind as a currency trader, when the interest rates change market can move a lot sometimes more than 500 pips in a matter of few hours and in the next days on the interest rate increase announcement. If the FED increases the interest rate expect pairs like EUR/USD and GBP/USD to fall a lot while USD/JPY to rise to new highs.
FOMC Meeting is scheduled this week. There is the Jackson Hole Conference also this week.
FED is meeting at Jackson Hole this week. The annual Fed symposium is a highlight of the summer, and has been widely anticipated as an event where Fed Chair Janet Yellen may disclose some hints about the process to normalize rates when she speaks Friday.