SINGAPORE : The dollar was on a firm footing on Monday, as traders brace for a sharp U.S. interest rate hike this week and look for safety as data points to a weakening global economy.
"Market reaction will turn on how hawkish Chair Powell sounds with his determination to reduce inflation in the face of slowing growth," said National Australia Bank currency strategist Rodrigo Catril. The Aussie edged about 0.5 per cent lower to $0.6892 and the kiwi was down by the same margin to $0.6223.
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