Dovish testimony from Federal Reserve Chair Jerome Powell on Wednesday bolstered bets on reflation and fears of inflation, driving the U.S. dollar to fresh three-year lows against commodity-linked currencies including the Canadian, Australian and New Zealand dollars. Powell reiterated on Wednesday that U.S. interest rates will remain low and the Fed will keep buying bonds to support the U.S. economy. Powell’s remarks to the House of Representatives Committee on Financial Services mirrored his testimony before the Senate on Tuesday. Easy financial conditions, the promise of fiscal stimulus and the COVID-19 vaccine ... (full story)