The dollar held gains against major currencies on Thursday after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates.
FILE PHOTO: U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration
“The dollar managed to bounce back after Powell’s comments on negative rates, but now the dollar’s bias is fairly neutral,” said Takuya Kanda, general manager of the research department at Gaitame.com Research Institute in Tokyo. “The committee’s view on negative rates really has not changed. This is not something that we are looking at,” Powell said on Wednesday, referring to the Fed’s policy-setting Federal Open Market Committee.
U.S. data on weekly jobless claims due later Thursday and a survey on U.S. manufacturing due Friday should offer more clues about the economic outlook.
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