FOREX-Dollar dips as Powell says rate hikes may slow
(Recasts with comments from Fed's Powell, updates prices)
By Karen Brettell
NEW YORK, Nov 30 (Reuters) - The dollar dipped on Wednesday after Federal Reserve Chairman Jerome
Powell said that the U.S. central bank could scale back the pace of its interest rate hikes "as soon as
December."
Still, Powell cautioned that the fight against inflation was far from over and that key questions remain
unanswered, including how high rates will ultimately need to rise and for how long.
The dollar index was last at 106.41, down 0.40% on the day. The euro rose 0.32% to
$1.0364 and the greenback fell 0.17% to 138.43 yen.
The U.S. currency had dipped earlier on Wednesday after the ADP National Employment report showed that
U.S. private payrolls increased far less than expected in November, suggesting demand for labor was cooling
amid high interest rates. Other data also showed that U.S. job openings fell in October.
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Currency bid prices at 1:57PM (1857 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index 106.4100 106.8600 -0.40% 11.234% +107.1900 +106.2800
Euro/Dollar $1.0364 $1.0328 +0.32% -8.86% +$1.0400 +$1.0290
Dollar/Yen 138.4300 138.7050 -0.17% +20.29% +139.8850 +138.3350
Euro/Yen 143.49 143.26 +0.16% +10.11% +144.8400 +143.1800
Dollar/Swiss 0.9477 0.9542 -0.66% +3.92% +0.9547 +0.9479
Sterling/Dollar $1.1994 $1.1953 +0.35% -11.31% +$1.2029 +$1.1900
Dollar/Canadian 1.3498 1.3581 -0.60% +6.77% +1.3593 +1.3490
Aussie/Dollar $0.6754 $0.6687 +1.02% -7.07% +$0.6761 +$0.6671
Euro/Swiss 0.9822 0.9850 -0.28% -5.28% +0.9873 +0.9790
Euro/Sterling 0.8640 0.8642 -0.02% +2.86% +0.8660 +0.8622
NZ $0.6271 $0.6200 +1.13% -8.39% +$0.6281 +$0.6191
Dollar/Dollar
Dollar/Norway 9.8825 10.0045 -0.23% +13.30% +10.0070 +9.8680
Euro/Norway 10.2439 10.3204 -0.74% +2.31% +10.3528 +10.2448
Dollar/Sweden 10.5558 10.5736 +0.10% +17.05% +10.6726 +10.5144
Euro/Sweden 10.9369 10.9256 +0.10% +6.92% +10.9840 +10.9120
(Editing by Elaine Hardcastle)