Dollar catches breath as traders await Powell testimony
The dollar paused for breath on Tuesday as traders looked to testimony from U.S. Federal Reserve chair Jerome Powell for guidance, after a surprise shift in the central bank’s policy outlook, while cyptocurrencies nursed heavy losses.
Bonds stung, dollar cheered by sudden hawkish turn at Fed
Asian equities fell to a three-week low on Thursday after the U.S. Federal Reserve stunned investors by signalling it might raise interest rates at a much faster pace than assumed, sending bond yields and the dollar sharply higher.
