Gold dips, dollar flat in Asia

Gold prices fell in Asian trade to near year lows, while the dollar index backed off July 14, 2017 highs for another session, amid a lack of data from the US today, and after President Donald Trump criticized interest rate hikes and the stronger dollar. 

As of 04:05 GMT, gold futures due on August 15 fell 0.25% to $1,224.80 an ounce from the opening of $1,227.90, while the dollar index shed 0.06% to 95.03 from the opening of 95.09. 

President Donald Trump criticized the Federal Reserve in an interview with CNBC, saying he's "not thrilled" with rate hike decisions that lead to a stronger dollar, while China's yuan falls like a rock. 

He commended Fed Chair Jerome Powell as a "good man", adding he won't intervene into the Fed's actions, with the remarks overall weighing on the dollar on currency war concerns. 

In his two-day testimony before the two chambers of Congress, Fed Chair Jerome Powell pointed to strong economic growth this year with continued improvement in the labor market and inflation rates, while cautioning from short-term consequences to trade protectionism.