The dollar slid yesterday after Fed Chair Jerome Powell reiterated that the policymakers will stay “patient” with regards to interest rates, noting that they are in “no rush to make a judgment” on future interest-rate moves. The main gainer among the G10s was once again the British pound, rallying after May promised lawmakers that they will have the chance to vote on a no-deal Brexit and a three-month extension if no accord is approved by March 12th.
USD Slides as Powell Reiterates Fed’s ‘Patient’ Stance
The dollar traded lower against all but one of the other G10 currencies, with GBP being the big winner for the second consecutive day. The currency that failed to take advantage of the greenback’s weakness was CHF, with USD/CHF found virtually unchanged this morning.
Yesterday, Fed Chair Jerome Powell testified before the US Senate Banking Committee. The Fed Chief reiterated that policymakers will stay “patient”, noting that...
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