The U.S. dollar firmed against other major currencies on Monday, reacting to U.S. Federal Reserve Chairman Jerome Powell's comments that suggested the central bank might resort to aggressive monetary tightening this year.
"We will take the necessary steps to ensure a return to price stability," Powell said in remarks to the National Association for Business Economics. "In particular, if we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so."
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