The dollar traded marginally higher versus majors as investors await now the upcoming Senate testimony from Fed Chairman Powell, Wednesday afternoon. The bets for an aggressive Fed move on interest rates are off the table at this point, sending the dollar to 3-week highs and basically erasing the losses of the past 3 trading weeks. “Safe heavens” also lost ground, the JPY and CHF, are trading at above 108.7 and 0.9930 respectively, both at 3-week lows versus the greenback. EU and US equity markets traded lower from 2019 highs on profit taking yet the trading day was a lackluster one, on very low volumes and narrow ranges. Metals traded mostly lower on the stronger dollar while Oil started the week on a positive note, trading above the $58.4 per barrel then reversed lower to close the day near the flat line at $57.54, down marginally on the day.
Fed Chairman Powell speech at 1:45 pm is the important news on the agenda Tuesday. (all times GMT).
Global Markets 24 hours wrap-up
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