US dollar index trades steadily ahead of Powell's speech and CPI data

Odaily News The dollar traded steadily as investors focused on a speech by Federal Reserve Chairman Powell and looked ahead to U.S. inflation data to be released tonight. Powell testified before the Senate Banking Committee on Tuesday that the Fed is in no rush to cut interest rates. He will speak to the House Financial Services Committee at 23:00 tonight. Swissquote analyst Ipek Ozkardeskaya said in a report that lower-than-expected inflation data would ease concerns about price pressures and weaken the dollar. Conversely, stronger-than-expected inflation data could support further gains in U.S. Treasury yields and the dollar and weigh on risk appetite. (Jinshi)