Despite triggering a bout of risk-off sentiment in the market when he warned of tough times ahead for the economy, and all but ruled out an increase in interest rates until at least 2023, Federal Reserve chairman, Jerome Powell, gave Dollar bulls a boost by not announcing any increases in monetary stimulus. Many investors had braced for the announcement of an increase in the Fed’s asset purchase program, which would have weighed down on the Dollar; as it turned out such predictions failed to materialise, which explains the Dollar gains across the board versus other major currencies during early Thursday trading.
