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Forex

Powell's Inflation Comments Spark USD Surge

Guavy AI Editorial Team
Instruments
USD NZD
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Federal Reserve Chair Jerome Powell's comments on inflation trends have pushed the US Dollar Index (DXY) above 100.00, causing market participants to bet on two more Fed rate hikes by year-end.

The news follows Powell's statement that 'inflation trends were not passing the test', a sentiment that has sent shockwaves through financial markets.

The strong performance of the US dollar against major currencies was reflected in the percentage changes, with the New Zealand Dollar being the weakest at -0.76%.

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