💨 Abstract

The dollar held steady against major currencies on Wednesday, awaiting U.S. inflation data. Remarks from Federal Reserve Chair Jerome Powell boosted U.S. yields, supporting the dollar against the yen. The yen's dip was attributed to a break of its 200-day moving average and potential profit taking, as it was the best-performing major currency against the dollar this year.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖