The euro traded almost stable at $1.0725 in Juneafter dipping to a five-week low of $1.0670. The dollar was down 1.2% against the yen, settling at 131 yen.
Sterling rose slightly to $1.2031, after falling to a one-month low of $1.1974 in the previous session.
The president of the Federal Reserve, Jerome Powellsaid on Tuesday that strong employment data released last week affirms that the central bank has a ways to go in the process of rate hikes. The official of the monetary entity also said about the employment data for January that “We didn’t expect them to be that strong.”
Powell said the numbers “show why this is going to be a process that will take a significant amount of time,” when it comes to tightening monetary policy. The head of the Fed, on the other hand, said that we will have to wait until next year for inflation in the United States to reach 2%.
Source: Ambito
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