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Dollar Stabilizes Near 7-Month Lows

Started by Epoch-Times-Bot, Jan 10, 2023, 08:15 AM

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Epoch-Times-Bot

Jan 10, 2023, 08:15 AM
Dollar Stabilizes Near 7-Month Lows

SINGAPORE/LONDON—The dollar steadied near its softest in seven months against the euro on Tuesday after more hawkish comments overnight from two U.S. Federal officials helped it to stem its recent losses ahead of remarks by Fed chair Jerome Powell due later in the day.
The euro was at $1.0736, little changed on the day, trading just below its seven-month high of 1.07605 hit Monday. Sterling was down 0.1 percent at $1.2165, just below Monday’s three-week top.
The dollar has been sliding as markets grow increasingly doubtful that the Fed will have to take interest rates above 5 percent to cool inflation as effects of its aggressive rate increases last year have already been felt....

Source: Dollar Stabilizes Near 7-Month Lows

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