Showing posts with the label Fx.
cnbc.com Bullish comments by Fed's Powell boost US dollar CNBC Justin Sullivan | Getty Images The dollar rose to a three-week high on Wednesday, as demand increased after upbeat comments from U.S. Federal Reserve Chairman Jerome Powell about the U.S. economy. In congressional testimony on Tuesday, Powell said he believed the United States was on course for years more of steady growth, and played down the risks to the U.S. economy of the escalating trade conflict. He reiterated his remarks on Wednesday before a U.S. House panel. Tho
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cnbc.com Dollar hovers near 11-month high as trade concerns weigh CNBC Frank van den Bergh | E+ | Getty Images The dollar was little changed on Wednesday, hovering near an 11-month peak against a basket of major currencies as China's signal of a tolerance of a stronger yuan offset anxiety about the global trade conflict. The greenback, as well as the yen and Swiss franc, remained well supported as traders braced for possibly another round of tariffs. "The market is holding its breath on what is the next development," said Mazen Issa, senior FX strategist at TD Securities in New York. "We just went through a significant policy move in trade."