LONDON - The dollar recovered on Thursday after suffering some brief losses overnight with traders focusing on relatively confident comments from Fed Chair Jerome Powell on the economy’s outlook.
But that changed when Fed Chair Jerome Powell said the factors dragging on inflation might be “transitory” and he saw no case for a rate move in either direction. “What’s more important though is that he made it clear that he sees no case for easing interest rates, which of course will not make President Trump happy at all.”
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