The US dollar remained near a three-weeks low today. This came in after Federal Reserve Chairman Jerome Powell reiterated that the central bank would stay patient on monetary policy.
Powell said that rising risks and recent soft data were unlikely to prevent solid growth for the U.S. economy this year… But the Fed would remain “patient” in its decisions on further interest rate hikes.
Meanwhile, the Australian dollar was up for the fourth straight session. Risk appetite is now a key incentive in the market, and currencies like the Aussie benefit the most. Global equities too have performed strongly this week, mainly being driven by improving risk sentiment amid ongoing trade talks.