The dollar languished near a one-month low against a basket of currencies Thursday, after Fed Chair Jerome Powell stuck to his usual messaging at his testimony.
In this photo illustration, 100 U.S. dollar notes and 100 yuan notes are displayed.The dollar languished near a one-month low against a basket of currencies on Thursday, afterChair Jerome Powell stuck to his usual messaging at his semi-annual testimony, offering little room for surprise.
In remarks to lawmakers on Capitol Hill on Wednesday, Powell said further U.S. rate increases are "a pretty good guess" of where the Fed is heading if the economy continues in its current direction. Those comments were in line with what the central bank said at its policy meeting last week. British inflation failed to ease in May and held at 8.7%, defying market expectations and making it the highest of any major economy.
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