FOREX-Dollar drifts lower as Fed speakers soothe inflation fears ...Middle East

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FOREX-Dollar drifts lower as Fed speakers soothe inflation fears
source : Devdiscourse ( Middle East ) () 32
The dollar coasted at the bottom of its recent range on Tuesday, as softer-than-expected U.S. data and fresh insistence from Federal Reserve officials that policy would stay on hold allayed investor fears about inflation forcing interest rates higher. Investors are heavily short dollars in the belief that low U.S. rates will drive cash abroad as the world recovers from the pandemic. They have become leery of adding to positions after an April leap in inflation cast doubt on the policy outlook, but seemed to find reassurance in data and Fed remarks overnight.

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