Category: Features

Record 10th week of consecutive losses for pound was this week although the British currency edged higher on Friday.

Comments from Fed Chief Jerome Powell boosted expectations for an interest rate cut from the U.S. central bank this month. Powell pointed to “broad” global weakness.

Powell is scheduled to appear before the U.S. House of Representatives Financial Services Committee at 10 a.m. EDT (1400 GMT). This is as part of Powell semi-annual monetary policy testimony to Congress.

Trade war fallout concerns weighed on markets. The euro dipped below $1.12 to a three-week low against a stronger dollar on Tuesday.

Bets on Sharp US rate cut drop held the dollar near three-week highs on Monday. Greenback kept its gains after last week’s strong U.S. jobs data.