FOMC Chairman Powell testimony: baseline outlook for US economy remains favourable

In remarks prepared for delivery to the Joint Economic Committee of Congress on Wednesday, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, will reiterate that the baseline outlook for the US economy remains favourable and say that the monetary policy is likely to remain appropriate as long as incoming data broadly remains consistent with the Fed's economic outlook.

These remarks don't seem to be having a noticeable impact on the greenback's valuation with the US Dollar Index clinging to modest daily gains above the 98.30 mark.