Dollar Weakens After Powell Comments


Dollar Weakens After Powell Comments

The dollar fell to a five-day low this morning after Federal Reserve Chair Jerome Powell kept the door open for U.S. interest rate cuts, though investors were wary of selling dollars aggressively until a policy review later this month. In testimony to Congress, Powell pointed to “broad” global weakness that was clouding the U.S. economic […]

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Sterling Hits 2 Year Low

Sterling fell towards its lowest levels in more than two years on Tuesday against the backdrop of a worsening economic outlook and rising fears about a no-deal Brexit and a new Prime Minister. With a key US$1.25 level against the dollar giving way in early Asian trade, traders quickly pushed the British currency down half […]

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Market Update

Bank of England Governor Mark Carney said the BoE would only factor the possibility of a no-deal Brexit into its economic forecasts if Britain’s next prime minister decides to leave the European Union without a transition agreement. Last week, the BoE highlighted a disconnect between the “smooth” Brexit scenario that underpins its forecasts and the […]

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Dollar Gains After Fed Comments

The dollar this morning as expectations dwindled for aggressive cuts in U.S. interest rates after comments by Federal Reserve officials. Fed Chairman Jerome Powell stressed the central bank’s independence from U.S. President Donald Trump, who is pushing for rate cuts. St. Louis Fed President James Bullard, considered one of the most dovish U.S. central bankers, […]

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