The U.S. dollar recovered after early weakness on Wednesday but started losing ground past noon, weighed down by remarks by the Federal Reserve Chairman Jerome Powell that interest rates will remain at near-zero levels for the foreseeable future.
Powell testified before House Financial Services Committee today, with his prepared remarks mirroring those he delivered before the Senate Banking Committee on Tuesday.
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Forex News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.