USD: Speeches expected from Powell and Fed officials

The dollar is trading in tight ranges against the pound and the euro this morning ahead of a speech from Federal Reserve Chair, Jerome Powell, later today.

Powell is set to comment on the US’ economic outlook ahead of a series of speeches from Federal Reserve officials throughout the week, including another from Powell on Wednesday.

The greenback is still benefitting from its status as a safe haven currency due to the war in Ukraine. Over the weekend, President Biden warned Chinese leader Xi Jinping that there would be consequences if China supported Russia’s invasion of Ukraine.

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