Powell is seeking a second four-year term as head of the Fed, and his appearance before the committee will be followed by a hearing with vice chair nominee Lael Brainard on Thursday
The dollar edged higher against a basket of currencies on Monday as recent employment data prompted some Wall Street banks to raise their estimates for Federal Reserve interest rates
The dollar had met with selling late last week after a weaker-than-expected headline US job-creation figure squeezed traders out of long dollar positions
The dollar started the week with support as traders bet US inflation data and appearances from several Federal Reserve officials would bolster the case for higher interest rates
The dollar index fell 0.546% at 95.734, and was poised for its biggest drop since Nov. 26, when concerns about the Omicron COVID-19 variant began to rattle markets
The dollar index weakened after the Labor Department said nonfarm payrolls rose by 199,000 last month, well short of the 400,000 estimate
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves
The rupee gained 12 paise to close at 74.30 (provisional) against the US dollar on Friday, tracking positive domestic equities.
The dollar is set to notch up a fifth consecutive weekly gain on the Japanese yen and looks poised to extend the rally
The rupee declined by 6 paise to 74.44 against the US dollar in opening trade on Thursday
TOKYO (Reuters) - The dollar hovered near a five-year high to the yen on Thursday, supported by a surge in U.S. Treasury yields on rising bets for a Federal Reserve rate hike by March.
The US dollar rose for a fifth straight day against the Japanese yen on Tuesday, hitting a five-year high
China's yuan eased against the dollar on its first trading day of 2022, after posting full-year gains for two straight years
The US dollar reached its strongest level in more than a month against the Japanese yen on Tuesday
But with London, Europe's main FX trading centre closed for a market holiday, volume was expected to remain limited
Meanwhile, the dollar index, which measures the greenback's strength against the basket of six currencies, advanced 0.11 per cent to 95.77
The rupee started the year 2022 on a muted note as it slipped 14 paise to 74.43 against the US dollar in opening trade on Monday, tracking weak macroeconomic data. At the interbank foreign exchange, the rupee opened weak at 74.35, then fell further to 74.43 against the greenback, registering a decline of 14 paise from the last close. The local unit also touched an early high of 74.31 against the greenback in initial deals. The local unit on the last trading day of 2021 had settled at 74.29. The dollar index, which gauges the greenback's strength against a basket of six currencies, increased by 0.19 per cent to 96.85. On the domestic macroeconomic front, India's current account slipped into a deficit of USD 9.6 billion or 1.3 per cent of GDP in the September quarter, the Reserve Bank said on Friday. The current account, which records the value of exports and imports of both goods and services along with international transfers of capital, was in a surplus mode both in the quarter-a
The case for a rebound should be aided by lower valuations after the MSCI Asia Pacific Index underperformed its global counterpart by around 20 percentage points last year
Equities around the globe traded little changed on Thursday as oil prices fell and the US dollar dipped against most major currencies
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves