The US dollar traded higher against all of the major currencies on Tuesday on the back of relatively neutral comments from Federal Reserve Chairman Jerome Powell. Although Powell described the outlook as highly uncertain and said “the path forward will depend on keeping the virus under control and on policy actions taken at all levels of the government,” none of these remarks were surprising. Powell is speaking a few times this week on the coronavirus and the economy but with monetary policy set, comments from his peers could be more market moving. In fact we were surprised when Fed President Evans said the … (full story)
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