Dollar drifts as investors eye Powell speech, yen wobbles near intervention zone
SINGAPORE - The U.S. dollar started Tuesday on the back foot as investors took stock of developments in the Middle East and braced for a slew of speeches by central bank officials this week headlined by Fed Chair Powell to gauge the monetary policy outlook.
Japan's top financial diplomat Masato Kanda said the yen was still perceived as a safe haven asset like the dollar and the Swiss franc despite its recent weakness, and was benefiting from demand due to the conflict in the Middle East. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing.Christopher Wong, currency strategist at OCBC, said the dollar is likely caught in a range for now.
In other currencies, the euro was down 0.01% at $1.0557, while sterling was last at $1.2214, down 0.02% on the day.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Powell pastor shares motivation behind Columbus Marathon run'Willie was an incredible inspiration,' Justin Williams, a runner and pastor of Powell United Methodist Church, said.
Read more »
Stocks Week Ahead: Powell, Earnings, 20-Year Bond Auction to Stir VolatilityMarket Overview Analysis by Michael Kramer covering: S&P 500, US Dollar Index Futures, United States 30-Year, U.S. 20-Year. Read Michael Kramer's latest article on Investing.com
Read more »
Tesla earnings, Jerome Powell speech, retail sales highlight key week on Wall StreetWall Street bulls face a crucial test this week as the third quarter earnings season shifts into full gear amid rising geopolitical tensions and renewed inflation risks.
Read more »
Stocks edge higher, Tesla, Powell in focus, Pfizer slumps, Taylor Swift shines, Lululemon enters S&P 500 -...Stocks higher, Tesla, Powell in focus, Pfizer, Taylor Swift, Lululemon
Read more »
Rare Jurassic fossils discovered near Lake PowellWhile documenting fossil tracksites along a stretch of Lake Powell, a Glen Canyon National Recreation Area (Glen Canyon NRA) field crew discovered the first tritylodontid bonebed found in the Navajo Sandstone in Utah. These extremely rare fossils are one of the more important fossil vertebrate discoveries in the United States this year.
Read more »
Lawyers and judge hash out juror questions for Powell and Chesebro trial in Georgia election caseLawyers for Sidney Powell and Kenneth Chesebro have met with prosecutors and the judge overseeing the case to hash out what will be asked on a lengthy questionnaire when the first group of 450 prospective jurors arrives at the courthouse later this week.
Read more »