The dollar was up on Wednesday morning in Asia, with investors anticipating a speech by U.S. Federal Reserve Chair Jerome Powell later in the day. <\/p>\n\n\n\n
The U.S. Dollar Index<\/a> that tracks the greenback against a basket of other currencies slipped 0.04% to 99.998 by 11:40 AM ET (4:40 AM GMT). <\/p>\n\n\n\n Powell is likely to resist calls for negative rates, a hot issue since U.S. money market instruments started pricing in a chance of negative rates last week. <\/p>\n\n\n\n But U.S. consumer prices dropping 0.8% in April raised the possibility of deflation as the economy sinks deeper into recession, fueling the debate about policy responses and putting pressure on the Fed to do more. <\/p>\n\n\n\n U.S. President Donald Trump again pushed the Federal Reserve to adopt negative interest rates on Tuesday. <\/p>\n\n\n\n \u201cI would advise against negative rates. Japan has done that but the perception here is that it wasn\u2019t so good,\u201d Hiroyuki Ueno, senior strategist at Sumitomo Mitsui (NYSE:SMFG<\/a>) Trust Asset Management, told Bloomberg. <\/p>\n\n\n\n \u201cBut what\u2019s worrying is that Trump is now talking about them. Looking at past examples, the Fed has eventually done what Trump wanted quite often.\u201d <\/p>\n\n\n\n The USD\/JPY<\/a> pair was up 0.07% to 107.21. <\/p>\n\n\n\n The AUD\/USD<\/a> pair revered its losses from Tuesday, gaining 0.08% to 0.6474 in the aftermath of a newspaper report that China banned some Australian meat imports. The AUD trimmed its losses as Australia\u2019s trade minister played down the issue as a technicality. <\/p>\n\n\n\n Meanwhile, the NZD\/USD<\/a> pair slid 1% to 0.6015. <\/p>\n\n\n\n The USD\/CNY<\/a> pair gained 0.13% to 7.0906 and the GBP\/USD<\/a> pair gained 0.09% to 1.2271. <\/p>\n","protected":false},"excerpt":{"rendered":" The dollar was up on Wednesday morning in Asia, with investors anticipating a speech by U.S. Federal Reserve Chair Jerome Powell later in the day. The U.S. Dollar Index that tracks the greenback against a basket of other currencies slipped 0.04% to 99.998 by 11:40 AM ET (4:40 AM GMT). Powell is likely to resist calls for negative rates, a hot Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2453","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/2453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=2453"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/2453\/revisions"}],"predecessor-version":[{"id":2454,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/2453\/revisions\/2454"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=2453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=2453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=2453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}