Dollar Steadies After Powell’s Testimony; Sterling Awaits BOE Meeting
The U.S. dollar stabilized in early European trade Thursday near a one-month low after the first day of Federal Reserve Chair Jerome Powell’s semi-annual testimony to Congress, while sterling edges lower ahead of the latest Bank of England meeting. At 01:50 ET (05:50 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, edged higher to 101.707, trading just above its recent one-month low. Mixed messages from the Fed Federal Reserve Chair Jerome Powell appeared before the House Financial Services Committee of Congress on Wednesday.…
Read More