July 9 (Reuters) – The dollar gained on Tuesday after Federal Reserve Chair Jerome Powell acknowledged progress in inflation, but did not give a clear signal that the U.S. central bank is close to cutting interest rates.
Powell said that inflation “remains above” the U.S. Federal Reserve’s 2% target, but has been improving in recent months and “more good data would strengthen” the case for central bank interest rate cuts.
Source: REUTER
