SINGAPORE : The dollar was subdued on Tuesday ahead of testimony by Federal Reserve chair Jerome Powell, which investors will focus on for cues of the path the U.S. central bank is likely to take in tackling sticky inflation.The dollar index, which measures the U.S. currency against six major rivals, was
SINGAPORE : The dollar was subdued on Tuesday ahead of testimony by Federal Reserve chair Jerome Powell, which investors will focus on for cues of the path the U.S. central bank is likely to take in tackling sticky inflation.
The euro was 0.03 per cent lower at $1.0675, having risen nearly 0.5 per cent overnight. Sterling was last trading at $1.2025, up 0.03 per cent on the day, while the kiwi fell 0.08 per cent to $0.619. Kevin Cummins, chief economist at NatWest Markets, said Powell would likely express heightened concern around inflation but would probably stop short of raising expectations for a 50 basis point hike on March 22.
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