Economic news

Dollar firm after Powell confirms economy's health

The dollar was steady versus its major counterparts on Thursday, underpinned by bullish comments from the U.S. Federal Reserve head Jerome Powell, which confirmed anticipations for at least two more interest rate increases this year.

Photo: Reuters

The dollar index last traded at 95.021 after touching a three-week top of 95.407 overnight.

The greenback lost 0.15 percent at 112.685 yen.

The euro was stable at $1.1650 after sliding about 0.2 percent in the previous session, during which it hit a 16-day nadir of $1.1602.

The Chinese yuan extended declines to scale a fresh one-year weak point of 6.779 a dollar in offshore trading.

The Aussie surged on a better-than-expected local June jobs figures. The currency added 0.4 percent to $0.7427 after moving as high as $0.7444.

Sterling traded at $1.3083, after dipping to a 10-month trough of $1.3010 in the previous session.

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