The prospect of an interest rate increase in the dollar is encouraging this week
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The following is a summary of the comments of Lukman Otunuga, a global foreign exchange broker, FXTM rich research analyst.
The dollar swelled against a basket of major currencies, when fed chairman Powell's testimony in Congress testified.
Powell is optimistic about the health of the US economy and believes that market volatility will not prevent further increase. When asked whether the central bank would raise interest rates more than three times this year, Powell did not give too many clues. Powell said "the economic outlook remains strong, despite the recent market turmoil some" his comments on pushing up the market for the Fed may raise interest rates four times this year's expected. The dollar has been greatly encouraged by the dollar index, with the dollar index breaking through 90.20. From a technical point of view, if multiple heads can maintain control over 90.20, the index is expected to go up to 90.50.
On Tuesday, the RMB weakened against the dollar, and after Powell's testimony, the dollar / RMB rose to 6.3170 yuan. The dollar / offshore RMB was also rising, and the exchange rate exceeded 6.3200 yuan. The dollar may be slightly under pressure this week.
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