US Dollar Falls on Powell’s ‘Dovish’ Comments to Congress

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USD held near 1-wk lows Wednesday after Fed officials including Chairman Powell reaffirmed tighter monetary policy is way off.

We will not raise interest rates pre-emptively because we fear the possible onset of inflation,” Chairman Powell said Tuesday in a hearing before a US House of Representatives panel. “We will wait for evidence of actual inflation or other imbalances.”

Against a basket of its peers, the Buck was flat at 91.772, holding near its lowest level since 17 June and nearly a 3rd below a 2-month high marked last wk.

Overall we see the USD continuing it downward trend,

Have a positive day, Keep the Faith!