US dollar continues to rise against the currencies after the talk of Jerome Powell
2019-02-07 08:43 am | Resource: NEWS | No Views : 69
US dollar continued to rally against most major currencies after Federal Reserve Chairman Jerome Powell, who insisted on the US economy, performed well
Jerome Powell: US economy "in a good place"
Federal Reserve Chairman Jerome Powell said the US economy was "in a good place" during a speech at a municipal meeting with teachers from across the country in Washington.
After his opening remarks, Powell confirmed in his responses to public questions that the Federal Open Market Commission (FOMC) pays particular attention to issues after its meetings and that "every word, every punctuation mark" is carefully chosen. Powell then said that the participation of the struggling "workforce" in the United States was a concern for the Federal Reserve.
However, he added that the Fed was "flexible" in testing the financial system for shocks. Powell also stressed that the Fed is a public institution that has derived its authority from Congress but has consistently sought "public faith." He concluded by pointing out that the US economy is in a good place and that productivity and labor force participation should increase aid growth.
Member of the Fed: 2019 years longer stress tests
Federal Reserve Vice President Randall Carles said in a speech to the Board of Economic Education that stress tests conducted during 2019 will help the Federal Reserve identify permanent changes to the exams. "Our experience this" interim "year will tell us to move to a longer test cycle - a change that of course will be subject to full notification and suspension," Carrolls said.
"The Federal Reserve carried out its first stress test ten years ago and" the initial experience helped stabilize financial markets and support our banking system at a critical and uncertain time, "he said.
"The challenge we face now is to maintain the strength of the test, while improving its efficiency, transparency and integration into the post-crisis regulatory framework," Carrolls said. "Stress testing provides an insight into a dynamic financial system, and stress testing must be dynamic as well."
US Dollar Trading
- The US Dollar was up against the Euro at 0.14%, with EUR / USD trading at 1.13524.
- The pound also fell against the dollar by 0.17% to trade at 1.29130.
- The greenback was up against the yen at 0.06%, with the dollar trading at 110.014.
- The dollar also stabilized against the franc at 1.0022, almost unchanged.
- The US dollar was up against its Australian counterpart by 0.31% and the Australian dollar is trading at $ 0.70950
Time frame Used - four hours The USD/JPY is moving in a sideway direction in the near term. The USD/JPY is still facing resistance and selling pressure around levels of 111.42 - 110.92 as the USD/JPY is floating in a narrow range and the USD/JPY is moving above the Bollinger's moving average line within the narrow range, indicating a potential price explosion but Not yet determined in any direction. In…
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