Market News
Dollar set to snap 3-day rise before Powell testimony, US data - REUTERS
Summary
- Dollar set to snap a 3-day rising streak
- Powell's testimony, U.S. consumer prices in focus
- Yen drops versus the greenback, euro up
Feb 11 (Reuters) - The U.S. dollar was set to snap a three-day rising streak on Tuesday as markets became increasingly numb to U.S. tariff threats while awaiting testimony from Federal Reserve Chair Jerome Powell later in the day and inflation data on Wednesday.
Analysts said the risks of U.S. import duties remained, but there were good reasons to monitor fundamentals.
Powell will deliver his semiannual monetary policy testimony before the Senate Banking, Housing and Urban Affairs Committee at 1500 GMT. U.S. inflation data is due on Wednesday, following strong jobs figures that supported U.S. Treasury yields and the greenback last week.
U.S. President Donald Trump moved to substantially raise tariffs on steel and aluminium imports and said he would announce plans to impose reciprocal tariffs on other countries over the coming days.
