Powell punches the dollar higher with dot-plot answer

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Initially, Fed Chair Jerome Powell tried and succeeded in not rocking the boat. He managed to strike a balance between being encouraged by growth but stressing a gradual path of rate hikes and kept the dollar balanced as well.

Later on, he gave a long testimony and had some hawkish comments. In an answer to a question about the dot-plot, Powell said that things have changed since that last update back in December. He listed positive changes, implying that the Fed would upgrade the projected path of interest rates, sending the US dollar higher across the board.

Here is a live coverage of the event, as it happened. 

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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