Dollar holds above 3-month lows ahead of Powell's remarks

2019-01-10 12:43:55 GMT (Economies.com)
Dollar holds above 3-month lows ahead of Powell's remarks

Dollar rose in European trade on Thursday against a basket of major rivals after retreating in Asia to three-month lows, ahead of an anticipated speech by Federal Reserve Chair Jerome Powell later today. 

 

The dollar index rose 0.25% to 94.92 from the opening of 94.67, with the lowest since October 16 at 94.62. 

 

The dollar index shed 0.8% yesterday, the fourth loss in five days, and the heftiest since November 1, as analysts expect a slower pace of US rate hikes in 2019 according to the Fed's meeting minutes. 

 

The minutes showed several policymakers favor maintaining interest rates unchanged this year, while hinging a hike solely on data. 

 

Federal Reserve Chair Jerome Powell is scheduled to speak at the Economic Club of Washington DC later today, with investors hoping for more clues on the future of interest rates. 

 
 
 
  Symbol Last Change Chg.%
1.1298
0.0001
0.0044%
1.3192
-0.0027
0.2008%
15.449
0.015
0.097%
58.392
-0.477
0.810%
67.03
-0.83
1.22%
1315.355
2.120
0.161%
 
 
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