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Dollar recovers on strong US economic news

amefika5 months ago07 mins

The Dollar Index (DXY00) rose to a 6-week high today and is up +0.36%. The dollar is rising today thanks to better-than-expected US economic news. Weekly jobless claims unexpectedly fell to a six-week low, and the Fed’s January Empire and January Philadelphia business outlook surveys rose more than expected. The dollar increased its gains today…

Fed’s Powell says economy is on firmer footing and end of quarter in sight

amefika8 months ago04 mins

NEW YORK (Reuters) – The U.S. labor market remained stuck in its doldrums of low hiring and layoffs through September, although the broader economy “may be on a somewhat firmer trajectory than expected,” Federal Reserve Chair Jerome Powell said on Tuesday. He noted that authorities will take a “meeting-by-meeting” approach to any further interest rate…