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

Last updated: June 23, 2021 6:10 am

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#dollar #Fed #Congress #dovish

$USD

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!

TAGGED:congress dollar dovish Fed

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By Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.