The US Dollar Index is trading flat on Wednesday, hovering just above 97.00, as investors await the testimony of the Federal Reserve’s chairman, Jerome Powell, to the Financial Services committee of the US congress. Also keenly awaited, is the publication of the June’s FOMC meeting minutes.
Depending on the tone of Powell’s comments to the house and the content of the FOMC minutes, the markets will have a better feel about the real stance of the North American central bank and the near-term degree of dovishness it is likely to adopt.
Photo by Warren Coetzer.
