Dollar rises near three-month high
2019-03-11 08:45 am | Resource: NEWS | No Views : 34
The dollar traded higher in early trading on Monday, approaching its highest level in three months after several comments by Jerome Powell on US monetary policy in the coming period
Powell Fed "is not in a hurry" to change interest rate policy
US Federal Reserve Chairman Jerome Powell said that the Fed "feels no hurry to change our interest rate policy." In a 60-minute interview, he once again stressed that patience is an important factor in determining whether there is justification for raising interest rates, and that the Fed will continue to monitor external growth, especially in Europe and China. Powell said the US economy could "grow at a healthy rate," although he acknowledged it would be a "challenge" to maintain growth of 4 percent.
Turning to national debt, the Fed chairman said the United States was "on an unsustainable path" as debt grew faster than the economy. As he hastened to point out that the country was not on the verge of a debt crisis, he warned that more and more taxpayers' money was being spent on "debt service rather than investment in the things we need to succeed as a nation", such as better education.
Powell: Internet attacks pose a serious threat to the United States
An Internet attack on the banking system in the United States is one of the biggest risks we face, as Federal Reserve Chairman Jerome Powell said. "Since cybercrime is a constantly evolving risk," the United States allocates considerable time and resources to protect the Federal Reserve Financial institutions and financial markets.
Speaking to CBS, he expressed concern that despite all the latest plans and technologies, banks and government institutions are still vulnerable to cyber attacks, and that the main concern is building resilience to these attacks. "What we can do is focus on analyzing recent threats, playing the best defense, making sure that our institutions are flexible and will not be successfully attacked, and also if they are successfully attacked through a backup plan, there is a surplus." He said.
"In the Fed, we have a special role in making sure our banking institution is resilient to cybercrime," Powell said. "We take this seriously. A relatively new type of risk with state actors, one where the rules are still being developed in real time, and yes, is a very big focus for many aspects of government and the private sector. "
- The dollar index, which tracks the greenback versus a basket of six major rivals, rose 0.1 percent to 97.426.
- The Euro was down against the US Dollar at 0.15% with EUR / USD trading at 1.1225.
- The pound was down 0.4 percent at $ 1.2968.
- Against the Japanese yen, the dollar fell 0.2 percent to 110.99 yen.
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. the USD/JPY was able to hold steady at 111.12 to rebound slightly to 111.90 as it faces some selling pressure around this level , but it is still above the Bollinger’s moving average line. In view of the technical indicators Both the RSI and Stochastic are indicators to weakness of the indicators.…
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