On Thursday (February 28), the US dollar regained its earlier decline, pulling up 30 points in the short-term and returning to the top of the 96 mark, as the latest US fourth-quarter GDP report was better than expected, and GDP growth in 2018 The fastest in three years. According to Bloomberg’s slowdown in the US economy in the last quarter, this is due to the rebound in business investment, indicating that the economy may maintain stronger growth for a longer period of time as the Fed takes a patient interest rate hike.
The dollar index continued to hit a three-week low. Earlier, Fed Chairman Powell reiterated that the Fed will be patient on monetary policy, and the US dollar is sensitive to potential bad news in the current state of the market. And the strength of the pound is also bringing pressure. The British government is striving to avoid a non-agreement to leave the EU. The spot gold price was stable, and the pattern still maintained a narrow range of recent shocks, and the situation in South Asia suddenly supported the gold price.
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US President Trump criticized Fed Chairman Powell for raising interest rates, quantifying austerity, and hoping for a stronger dollar. He hopes that the dollar’s desire to weaken will be realized, but only for a short period of time. On Monday (March 4), the US dollar index finally rebounded, hitting a high of 96.80.