The U.S. dollar remains the world’s reserve currency and the pricing mechanism for most commodities. The dollar’s exchange rate versus other reserve fiat currencies is often a function of interest rate differentials. At the Fed’s August Jackson Hole meeting, Chairman Powell sent a strong message that inflation has moved toward the central bank’s 2% target and that market participants should expect a decline in the short-term Fed Funds Rate at the September FOMC meeting. Lower rates tend to weigh on the dollar’s value against other currencies. Meanwhile, the U.S. dollar index fell, and bonds ro…