Forex – U.S. Dollar Flat Amid Scant Optimism for Fed Hike, Geopolitical Tensions


© Reuters.

Investing.com – The greenback was mostly flat on Wednesday as conflict between India and Pakistan caused investors to pause, while looking ahead to another appearance of Federal Reserve Chair Jerome Powell on the hill.

India and Pakistan, which are both nuclear-armed, said on Wednesday that they have against each other as cross-border attacks began for the first time since the 1971 war.

The , which measures the greenback’s strength against a basket of six major currencies, inched up 0.05% to 95.91 as of 10:01 AM ET (15:01 GMT) after falling 0.42% on Tuesday following comments from Powell.

Powell the central bank’s “patient” approach to monetary policy.

“The Committee can now evaluate the appropriate timing and approach for the end of balance sheet runoff,” Powell said in testimony prepared for delivery to the U.S. Senate Banking Committee on Tuesday.

The has paused on its pace of rate hikes as it evaluates headwinds in the domestic economy and abroad, removing the words “gradual increases” in interest rates from its policy statement in January.

The dollar was up against the safe-haven yen, with rising 0.21% to 110.80.

Elsewhere, the pound rallied on Brexit optimism, with up 0.54% to 1.3321. The euro inched down with falling 0.04% to 1.1380.

In Australia, the slipped 0.6% to 0.7139 while decreased 0.5% to 0.6845.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments

comments