The dollar index traded sharply higher versus majors on the upbeat testimony from Fed Chairman Powell yesterday in front of the Senate. The reaction was a sharp move higher for the dollar and US equity markets responded with a move higher as well, reversing the weak open and sending technology stocks to new all time highs. On the other hand metals took a sharp turn lower, weakening across the board on dollar strength. OIL traded mostly sideways ahead of the most important inventories number today in the afternoon, closing bellow 67$ per barrel, at one month low.
UK CPI at 9:30 am, US FED Chairman Testimony at the Senate at 3:00 pm and OIL Inventories at 3:30 pm are the important news on the agenda Wednesday.
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