Markets Poised for Powell's Speech Amid Economic Jitters
The U.S. dollar steadied against major currencies as investors await Federal Reserve Chair Jerome Powell's insights on the economic outlook. Mixed signals from the Fed and upcoming economic data call for investor attention, with minor fluctuations seen in global markets and currency exchanges.
The U.S. dollar held its ground on Tuesday as investors took stock of recent hawkish comments from Federal Reserve officials. Attention is now focused on Chair Jerome Powell's upcoming remarks, which could influence market expectations on interest rates. Previously, the dollar index had managed to pare some gains from Monday, settling at 97.34.
The British pound and the euro experienced slight losses, impacted by signs of slowing business activity in the U.K. and mixed economic signals in the eurozone. Investors continue to navigate the complex landscape shaped by U.S. economic policies and upcoming data releases. Congressional discussions this week, aimed at preventing a government shutdown, have further compounded market uncertainties.
Elsewhere, the dollar held stable against the yen and showed weakness against Sweden's currency following a strategic rate cut by the Riksbank. Global currency markets remained cautious, as geopolitical tensions and economic data shape the near-term outlook.
(With inputs from agencies.)
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