The US dollar weakened across the board yesterday, as the Federal Reserve is no longer the only major central bank aggressively raising interest rates.
This was despite a speech yesterday from Fed chair Jerome Powell maintaining his strong stance on inflation-busting measures, saying: “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”
Several other members of FOMC will be speaking today, and this could have an effect on the currency markets in the absence of any higher-impact data releases today.
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