After losing grounds lately, US dollar has peaked vs the majors over the day driven by the long-awaited speech of Federal Reserve Chairman Jerome Powell. According to Powell's statement, as before US Bank sticks to the policy of gradual interest rate increase, though the size of the revision is restrained by the current economic reports in the country.
The US Dollar index improved 0.25% to 89.98.
In his speech, Jerome Powell noted that the Federal Reserve will keep lifting interest rates step-by-step for securing stable economic situation in light of higher-pace growth and inflation.
“The economic outlook remains strong...Further gradual increases in the federal funds rate will best promote the attainment of both of our objectives,” he commented.
Meanwhile, considering the economic reports, the January figures on US durable goods orders turned to be the lowest over the half-year – 3.7% down m-o-m in January, according to the reports.
The greenback improved position vs the yen reaching 107.10.
The European currency plunged today to 1.2286, followed by the sterling coming down to 1.3913.