US Open Preview – Dollar broadly weaker ahead of Powell’s testimony; Stoxx 600 hits 3-week high
Posted on February 26, 2018 at 12:33 pm GMTHere are the latest developments in global markets: FOREX: The dollar remained broadly weaker against a basket of currencies, with markets eagerly awaiting Jerome’s Powell congressional testimony for positioning on the US currency moving forward. Euro/dollar was 0.3% up and pound/dollar traded higher by 0.5%, hitting a 10-day high of 1.4069 earlier on Monday. Sterling was supported by hawkish-perceived comments by BoE Deputy Governor Dave Ramsden over the weekend, as well as the Labour party’s support for a customs union [..]