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US Dollar Flies on Hawkish Powell


  • The U.S. dollar, as measured by the DXY index, rallies on soaring U.S. bond yields
  • Powell’s hawkish comments reinforce the greenback’s advance
  • This article examines EUR/USD, USD/JPY, AUD/USD and gold prices from a technical standpoint, analyzing key levels to watch in the coming days

Most Read: Gold, Silver Prices Perk Up, Palladium in Freefall, Key Levels for XAU/USD, XAG/USD

The broader U.S. dollar began the session on a subdued tone but rallied in afternoon trading, driven by soaring yields following lackluster demand for U.S. government securities at an important Treasury auction. The greenback’s upward momentum was later supercharged by Fed Chair Powell’s hawkish statements during a panel organized by the IMF.

In public remarks, the FOMC chief said that policymakers are not confident that they have achieved a sufficiently…

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