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US dollar edges up before Powell's testimony
The dollar slightly gained against its major peers on Tuesday, as investors awaited Federal Reserve Chairman Jerome Powell’s first congressional testimony for any clues on the pace of U.S. interest rate rises. Powell will testify on the economy and monetary policy before the U.S. Senate Banking Committee at 1400 GMT on Tuesday, followed by a testimony at the same time on Wednesday to the House of Representatives Financial Services Committee. “It seems that the markets are focusing on whether or not the trade war between the U.S. and China may affect the outlook for the Fed’s tightening,” said Masafumi ... (full story)