49 min ago
Dollar Steady, Could Turn Higher if Powell Is Cautious About Cutting Rates
The dollar was trading steady ahead of a testimony from Federal Reserve Chair Jerome Powell later.
Powell is expected to sound cautious about cutting interest rates, though there is mounting pressure from President Donald Trump to lower rates, Swissquote Bank analyst Ipek Ozkardeskaya said in a note.
U.S. growth remains solid, the jobs market healthy, and inflation sticky, she said. Trump's growth-boosting policies and tariff threats could also increase inflation, she added. A cautious stance from Powell would potentially boost the dollar.
