FOREX-Dollar adds to gains as Fed's Powell nods to "gradual" rate hikes

Forex News

The dollar added to gains against a basket of major currencies on Tuesday after Federal Reserve Chairman Jerome Powell told U.S. lawmakers the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.

Powell pledged to "strike a balance" between the risk of an overheating economy and the need to keep growth on track. His congressional testimony was his first public appearance since being sworn in as chairman earlier this month.

Powell is scheduled to present his remarks to a U.S. House of Representatives committee at a hearing scheduled for 10 a.m. EST (1500 GMT), followed by questions from lawmakers.

Brad Bechtel, managing director FX at Jefferies, in New York, said Powell's comments were generally positive for the dollar.

"He is hawkish in the context of being very upbeat on the economy but willing to go at a moderate pace to normalize policy," Bechtel said.

The dollar index, which measures the greenback against a basket of six other major currencies, was up 0.26 percent at 90.089.

Some of the headwinds the U.S. economy faced in previous years have turned into tailwinds, Powell said, noting recent fiscal policy shifts and the global economic recovery.

"That's sort of a big statement if you think about it," said Bechtel.

"He's kind of dialed it up just a notch from where (Powell's predecessor, Janet) Yellen was," Bechtel said.

The Fed is expected to approve its first rate increase of 2018 at its next policy meeting in March, when it will also provide fresh economic projections and Powell will hold his first news conference. Fed policymakers anticipate three rate increases this year.

"From a 10,000-foot view, Powell's prepared remarks are common-sense," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia.

"It's more interesting to see that the market is interpreting the comments as somewhat hawkish, and that's more informative about the trading bias right now than about the Fed's actually likely policy path."

The dollar was up 0.19 percent against the Japanese yen at 107.11 yen.

The euro was down 0.26 percent against the dollar at 1.2284.

Italians vote in a national election on Sunday, while the leading political parties in Germany will decide on a coalition deal that could secure Angela Merkel a fourth term as chancellor.

There was not a whole lot of fear in the market about the outcome of the Italian election, Bechtel said.

"There is a lot of folks looking at hedges but not a huge amount of activity in that space. Kind of an ambivalence towards the election this weekend, which is interesting," said Bechtel.

forex news calendar
forex news live
forex news eur usd
forex news trading
forex news gun
forex news sites
forex news trader
forex news indicator
forex news alerts
forex newsletters
forex news
forex news app
forex news api
forex news and analysis
forex news aud
forex news analysis pdf
forex news app android
forex news arabic
forex news announcements
forex news app iphone
forex news bangla
forex news bitcoin
forexnews.bg
forex news bloomberg
forex news babypips
forex news by dailyfx
forex news before release
forex news breakout strategy
forex news blog
forex news best site
forex news calendar forex factory
forex news chf
forex news calendar indicator free download
forex news channel
forex news cad
forex news calendar live
forex news calendar app
forex news calendar download
forex news.com
forex news daily
forex news dollar
forex news dates
forex news download
forex news desktop widget
forex news desktop taskbar alert software
forex news dailyfx
forex news data feeds
forex news deviation
forex news desktop alerts
forex news ea
forex news euro
forex news economic times
forex news eur usd analysis
forex news event
forex news eur
forex news eur/usd
forex news explained
forex news event trading
forex news feeds
forex news factory
forex news for today
forex news feed api
forex news forum
forex news for next week
forex news feed free
forex news fundamental analysis
forex news for tomorrow
forex news feed for your website
forex news gbp
forex news gun download
forex news gbp usd
forex news gold
forex news gun alternative
forex news gbpjpy
forex news gbp nzd
forex news gun software
forex news gold price
forex news historical data
forex news high impact
forex news hedging
forex news hours
forex news history data
forex news hindi
forex news hk
forex news html code
forex news how to trade
forex news hari ini
forex news iraqi dinar
forex news impact history
forex news india
forex news in sinhala
forex news impact
forex news indicator mt4
forex news in urdu
forex news investing
forex news impact chart
forex news jpy
forex news jpy usd
forex news json
forex news gbp jpy
forex news eur jpy
forex news aud/jpy
forex news killer ea
forex news killer
forex news kenya
forex news kalender
forex news live tv
forex news live streaming
forex news latest
forex news live feed
forex news live radio
forex news leaks
forex news list
forex news live india
forex news live ticker
forex news malaysia
forex news mt4
forex news market clock mt4 indicator
forex news market clock
forex news_market_clock.ex4
forex__news_market_clock_2
forex news mobile
forex news market
forex news mt5
forex news magazine
mforex news
forex news now
forex news nzd
forex news nfp
forex news next week
forex news nzd usd
forex news nigeria
forex news nok
forex news nz
forex news in tamil
forex news on gold
forex news on gbp
forex news online
forex news oil
forex news on eur usd
forex news online tv
forex news on euro
forex news oanda
forex news online radio
forex news on twitter
forex news podcast
forex news predictions
forex news pakistan
forex news philippines
forex news provider
forex news paper
forex news pips
forex news program
forex news profiteer
forex news platform
quantina forex news trader
quantina forex news trader ea
quantina forex news trader ea 2015 ultimate v3.1
quantina forex news trader ea v2.3 download
quantina forex news trader ea v2.3
quantina forex news trader review
quickest forex news
quantina forex news trader ea review
quantina forex news trader ea 2015
quantina forex news trader ea v2.1
forex news release
forex news reddit
forex news radio
forex news real time
forex news reuters
forex news release strategy
forex news robot
forex news reports
forex news rss feed
forex news release alert
forex news schedule
forex news signals
forex news software
forex news straddle strategy
forex news strategy
forex news service
forex news south africa
forex news scalping
forex news shop
forex news this week
forex news trading system
forex news trading strategy
forex news trading software
forex news trader ea free download
forex news trading strategy pdf
forex news trading ea
forex news trading pdf
forex news usd
forex news updates
forex news usd jpy
forex news uk
forex news usd cad
forex news usd eur
forex news usd/cad
forex news usd chf
forex news usd inr
forex news urdu
forex news videos
forex news volatility
forex news expert v3.4
forex news is very important for trader
forex news trading video
forex most volatile news
vnd forex news
vkc forex news
forex easy news trader v1.02
forex news gun v1.0.13
forex news websites
forex news widget
forex news widget for website
forex news weapon
forex news wire
forex news weekly
forex news widget android
forex news wire services
forex news week
forex news worth trading
forex news xml
forex news xauusd
forex factory news xml
forex news feed xml
xe forex news
xm forex news
forex news yen
forex news youtube
forex news yahoo
news forex yang berdampak besar
forex news for your website
forex news trading youtube
yesterday forex news
add forex news to your site
forex news zar
forex news new zealand
zambia forex news
forex news 2018
forex news 2015
forex news 2016
forex news 24 hours
forex news 24
forex news 2014
platinum forex news 24
forex news indicator 2014
platinum forex group news 24
forex news for eur usd
forex news for the week
forex news for gold
forex news for trading
forex news for beginners

forex news for traders
does forex news trading work
how to forex news trading
how to trade forex news spikes
how to get forex news faster
how to trade forex news release
how to predict forex news
how to use forex news gun
how to get forex news
how to forecast forex news
how to watch forex news
how to find forex news
what is forex news trading
what is forex news
what forex news to trade
what is the best forex news site
where to get forex news
where to find forex news
where to watch forex news
where to read forex news
which forex news to trade

which is the best forex news site

FOREX-Dollar adds to gains as Fed's Powell nods to "gradual" rate hikes https://t.co/N7H1aX5GBq

— Algobit Forex (@AlgobitForex) 27 febbraio 2018