US dollar index trades steadily ahead of Powell's speech and CPI data

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ODAILY
02-12
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Odaily Odaily report: The US dollar traded steadily as investors focused on a speech by Federal Reserve Chairman Powell and looked ahead to the release of US inflation data tonight. Powell said on Tuesday in testimony to the Senate Banking Committee that the Fed is in no rush to cut interest rates. He will deliver a speech to the House Financial Services Committee at 11 pm tonight. Swissquote Bank analyst Ipek Ozkardeskaya said in a report that lower-than-expected inflation data would ease concerns about price pressures and weaken the US dollar. Conversely, stronger-than-expected inflation data could support a further rise in US Treasury yields and the US dollar, and dampen risk appetite. (Jinshi)

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