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The dollar rebounded after optimistic US economic statements by US Federal Reserve Chairman Jerome Powell, which boosted investor expectations for a strong US long-term dollar.
Powell did not change the expectations of US monetary policy in his congressional speech on Tuesday and Wednesday, but traders saw his comments as a sign of government satisfaction with the rising dollar of about 6% against other currencies in the last three months.
This implies a change in attitude on the part of Treasury Secretary Stephen Menuchin when he said in an unusual way in January that the dollar's weakness was "good for us".
The falling dollar helps US exporters compete abroad, but undermines the status of the currency as the world's largest reserve currency.
million. Powell has already pointed out that he believed that the United States was experiencing years of steady growth and that it had carefully avoided the escalating risks of the trade dispute over the past year. American economy.
The dollar index, which measures the strength of the currency against a basket of six major currencies, rose 0.3% to 95,344, approaching a record high of 95,531 in 12 months on June 28th.
The euro fell 0.3% to $ 1.1610. The single currency hit a 16-day low of $ 1.1602 on Wednesday.
The dollar fell 0.1% to 112.925 yen after rising Wednesday to 113.14 yen, its highest level since 9 January.
The pound sterling has remained weak since the previous session with weak data on inflation. The currency has been suffering for some time from the persistent political upheaval with regard to British plans to withdraw from the European Union.
The pound hit $ 1.3023 after hitting a 10-month low on Wednesday at $ 1.3010
Gold is at its lowest level for a year on the dollar's recovery [19659012] (f, b, e, v, n, t, s)
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