Dollar trims gains on Fed's Powell remarks

2019-06-25 18:12:20 GMT (Economies.com)
Dollar trims gains on Fed's Powell remarks

US dollar rose against most of its major counterparts on Thursday, but trimmed its gains following the Federal Reserve Chairman Jerome Powell comments.

 

Powell said that the expectations which indicates an interest rate cut at the July meeting are not recognized and don't have to be met.

 

He stressed that there is uncertainty about the global economic growth and the trade war between the United States and China casts its shadow on the FOMC officials' speculations.

 

Economic data showed that the US Conference Board's consumer confidence index fell to a two-year low this month.

 

While the markets are still in anticipation of the G20 summit, which will be launched in Japan later this week and will have the anticipated meeting between US presidents Donald Trump and his Chinese counterpart Xi Jinping.

 

In terms of trade, by 17:39 GMT, the dollar index (against a number of major currencies) rose by 0.1% to 96.1 points, with the highest level at 96.3 points and the lowest at 95.8 points.

 
 
 
  Symbol Last Change Chg.%
1.1259
-0.0014
0.1211%
1.2516
-0.0059
0.4696%
15.389
0.172
1.127%
59.562
-0.771
1.278%
66.47
0.00
0.00%
1413.200
-2.295
0.162%
 
 
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