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British pound steadies after dropping on Middle East escalation https://t.co/OuAzG9Vyas via @Reuters https://t.co/CIj77RHiKC
US dollar firm as war widens in Middle East https://t.co/rG8UIc6yO4 via @Reuters https://t.co/zhh5EdLE4m
Fed Chair Powell showed little sense of urgency and seemed to endorse the recent dot plot that implied two quarter-point rate cuts this year if the economy evolved as expected. This lifted $USD yesterday and the firmer tone carried into today's activity. https://t.co/bjnMc0LVqz
The US dollar remained firm after Federal Reserve Chair Jerome Powell pushed back on aggressive easing bets. Powell indicated a shallower path for US interest rates than the FX markets had anticipated, which supported the dollar's strength ahead of payroll data. Powell's comments suggested two quarter-point rate cuts this year if the economy evolved as expected. This stance lifted the dollar yesterday, and the firmer tone continued into today's trading activity.