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Dollar on defensive, eyes on Powell amid negative rates debate
Wednesday, 13 May 2020 07:36 WIB | CURRENCIES | EuroCurrencyDOLLAR

The dollar was on the defensive against its rivals on Wednesday as traders looked to Federal Reserve Chairman Jerome Powell's speech amid rising speculation the United States could one day adopt negative interest rates.

Risk-sensitive currencies lacked momentum as a warning from a top U.S. health official about the dangers of reopening the economy too soon served as a reminder of the uncertainties facing an economy which has been ravaged by the novel coronavirus.

The dollar traded at 107.15 yen having slipped from Tuesday's peak of 107.76, its highest since April 24.

The euro changed hands at $1.0848 after having gained about 0.4% in the previous session. The Australian currency stepped back to $0.6473 from Monday's one-week high of $0.6562.

Source : Reuters

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