The dollar eased while U.S. and European stocks edged higher on Wednesday ahead of a speech at the end of the week by Federal Reserve Chair Jerome Powell that may signal a reaffirmation or a “pivot” from an aggressive policy to tame runaway inflation.
Gold prices edged lower on a dollar that has been gaining strength as investors shifted recent expectations the Fed could slow its hiking of interest rates to a view that Powell remains committed to bringing inflation down to the Fed’s target of 2%.
