SINGAPORE : The dollar was perched near a three-month high on Thursday as Federal Reserve Chair Jerome Powell's message that interest rates would have to go higher and possibly faster to tame inflation dominated sentiment and kept the U.S. currency in bid.In the second day of his testimony to Congress on
SINGAPORE : The dollar was perched near a three-month high on Thursday as Federal Reserve Chair Jerome Powell's message that interest rates would have to go higher and possibly faster to tame inflation dominated sentiment and kept the U.S. currency in bid.
The euro and sterling similarly edged away from their multi-month lows, rising 0.02 per cent to $1.0546 and 0.09 per cent to $1.1854, respectively. "Powell conceded that the March decision is data-dependent," said Thierry Wizman, Macquarie's global FX and rates strategist."The question facing us, therefore, is whether January's economic reacceleration was a blip or a trend."
The Canadian dollar stood at 1.3808 per U.S. dollar on Thursday, after having weakened to a more than four-month low in the previous session following the decision.
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