The dollar was mostly unmoved yesterday following the release of prepared remarks from Federal Reserve Chairman Jerome Powell. He said, “We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook. However, noteworthy risks to this outlook remain.” Powell will continue his testimony in front of congress later today.
Annual inflation rate in the US increased to 1.8% in October of 2019 from 1.7% in September and higher than market expectations of 1.7%. There will also be a series of data releases for the US today, including Producer Prices figures.
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