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Dollar pares gains as investors cash in on boost from Fed's Powell
The dollar retreated from a three-week high on Wednesday as investors cashed in on gains the currency made after two days of testimony by U.S. Federal Reserve Chairman Jerome Powell reinforced a strong economic outlook. In congressional testimony on Tuesday and Wednesday Powell said he believed the United States was on course for years more of steady growth, and played down the risks to the U.S. economy of an escalating trade conflict. Against a basket of six major currencies, the dollar rose to a three-week high of 95.4 before settling around 95.08, up 0.2 percent. The retreat signaled a move by investors to cash in ... (full story)