US Dollar consolidates ahead of Fed Chairman Powell’s speech
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, is broadly flat and still resides above 108.00. The Greenback looks to be immune to US President Donald Trump's tariff talks.
While China silently slapped some minor tariffs on US goods in a tit-for-tat move on Monday, Trump introduced a 15% levy on steel and aluminum for all countries importing that will come into effect on March 12.
The economic calendar this Tuesday is being taken over by the Federal Reserve (Fed). Besides Fed Chairman Jerome Powell testifying before Congress, three Fed speakers are due to make an appearance.
Traders will want to hear if the central bank has plans for any changes in its monetary policy soon.
Source: FXStreet