Xe Market Analysis: Dollar Retreats as Powell eyes more gradual rate hikes

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OVERVIEW

  • The US Dollar weakened as investors search Fed Chair Powell’s speech for clues on rate hikes, more gradual hikes now expected. 
  • Sterling rose off of two-week lows only to be struck down by Bank of England Brexit forecasts
  • The Canadian Dollar bounced off a 5-month low as the US, Canada and Mexico prepare to sign the USMCA trade agreement.

HIGHLIGHT