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USD Eases Following Powell’s Testimony

M. Ali 23 June, 2021 1:40 am Forex Market, Market Update

The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, turning to losses against major peers after recent remarks by the Chairman of the Federal Reserve Jerome Powell.

The Dollar Index (DXY), which measures the greenback against a basket of six international currencies, declined by about 0.18% to 91.73, from 91.90 on Monday. The index had been moving today in a range between 92.12 and 91.65.

The Euro (EUR) gained 0.20% against the USD, with the EUR/USD reaching 1.1944, while the British Pound (GBP) leveled up by 0.11% with the GBP/USD reaching 1.3951.

Meanwhile, the USD/JPY pair rose by 0.31% to 110.67, recording the Dollar’s biggest rise against the Japanese Yen (JPY) since June 16.

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