Dollar to be weighed down by dovish Fed

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The dollar index (DXY) yesterday pared some of Friday’s gains, dipping below the psychological 91 mark before resurfacing.

The dollar’s declines come as Fed Chair Jerome Powell reminded markets that the US economic recovery needs to be more equitable, with almost 1 out of every 5 of the lowest-paid workers in America still unemployed since the pandemic broke out over a year ago. Powell’s comments prompted some segments of the markets to walk back expectations that the Fed could start removing its support for financial markets sooner than expected. The benchmark 10-year Treasury yields… Read More:

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