The dollar traded steadily as investors focused on remarks by Federal Reserve Chairperson Jerome Powell and looked ahead to U.S. inflation data due tonight. Testifying before the Senate Banking Committee on Tuesday, Powell said the Fed was in no hurry to cut interest rates.
He will address the House Financial Services Committee tonight at 23:00. In a note, Swissquote Bank analyst Ipek Ozkardeskaya said the lower-than-expected inflation data will ease concerns about price pressures and weaken the dollar.
On the contrary, stronger-than-expected inflation data could support further gains in Treasury yields and the dollar, and weigh on risk appetite.
Before Powell's speech and CPI data, the US index traded steadily
2025-02-12 08:18:06
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