BREAKING: US dollar declines heavily after Powell's speech

14:14 13 May 2020

Powell speaks today at an event organized by the Peterson Institute. His statement was strongly expected by the markets due to possible suggestions regarding negative interest rates. Powell did not clearly indicate the possibility of further rate cuts, but above all said that additional steps could be taken to protect the economy from further problems. It was enough for investors to sell off the dollar. It also gains gold, but Wall Street contracts weaken against weak economic information.

USDCHF broke below local support at 0.9687. Source: xStation5

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BREAKING: US dollar declines heavily after Powell's speech

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