LONDON, May 18 — The US dollar bounced back today, a day after its biggest daily loss in more than two months, as US Federal Reserve chief Jerome Powell struck a more hawkish tone as the central bank battles to rein in surging inflation.
At 0810 GMT, the US dollar index was up 0.3 per cent at 103.59, after earlier touching a two-week low following Tuesday’s 0.9 per cent drop. “Nonetheless, by making this comment Knot opens up a new line of attack for the ECB hawks,” Commerzbank analyst Ulrich Leuchtmann said in a note.
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