NEW YORKâThe dollar was little changed versus a basket of major currencies on Monday, as investors looked toward comments from U.S. Federal Reserve Chair Jerome Powell and from a host of other Fed policymakers this week for insight on monetary policy. The greenback had been fluctuating between slight gains and losses, and weakened slightly after comments from Atlanta Federal Reserve Bank President Raphael Bostic, who said he sees six rate hikes this year and two for 2023, a more dovish stance than most of his colleagues as he has concerns about the effects of the conflict between Russia and Ukraine on the U.S. economy. Markets have been volatile over the past month as the situation in Ukraine has escalated, increasing the prices of commodities such as energy and putting upward pressure on already high inflation. The Fed raised its key interest rate by 25 basis points last week for the …
Dollar Little Changed With Powell on Deck
March 21, 2022
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