Chair of the Federal Reserve System Jerome Powell spoke during late US time, very early Asia morning:
- Fed’s Powell: Inflation at goal, economy positive, unemployment lowest in 20 yrs
- Powell’s comments giving the USD a little nudge higher
- USD still gaining (welcome to the twilight zone)
Yep, he was the catalyst for a continued gain in the USD, EUR/USD to under 1.1500 after soft Europe/USD/US sessions.
There are the headline commetns on the first and second post above, but some of the news organisations have recaps up also if you’d like a little more:
- Reuters: Yields were on the move again late on Wednesday following a speech by Powell in which he said the U.S. economy can expand for “quite some time.”
- Bloomberg: Chairman Jerome Powell signaled the Federal Reserve will press on with rate hikes.