FOREX-Dollar steady, concentration on Fed arch Powell's testimony

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* Focus on Fed arch Powell’s congressional testimony

* Powell due to attest on Feb. 27

* US CFTC information shows dump in dollar-bearish bets

SINGAPORE, Feb 26 (Reuters) – The dollar steadied on Monday, with investors looking to Federal Reserve Governor Jerome Powell’s initial congressional testimony for hints on a destiny gait of U.S. financial tightening.

The dollar index, that measures a greenback opposite a basket of 6 vital rivals, was unvaried during 89.879 .DXY . It had gained scarcely 0.9 percent final week and pulled divided from a three-year low nearby 88.25 set on Feb. 16.

A perspective that a dollar’s selloff had been overdone, and mins from a Fed’s Jan rate-setting assembly that offering a comparatively upbeat tinge had helped give a dollar a lift final week.

Speculators’ net brief dollar bets fell in a week to Feb. 20, according to calculations by Reuters and Commodity Futures Trading Commission information expelled on Friday, as investors labelled in some-more seductiveness rate increases by a Federal Reserve.*:nL2N1QD1VI

The concentration this week is on Fed Chairman Jerome Powell’s congressional testimony on financial process and a economy.

Some marketplace participants pronounced Powell could keep a marketplace guessing about a gait of U.S. rate increases.

“There is no inducement for Powell to pre-signal any change in a Fed narrative,” Stephen Innes, conduct of trade in Asia-Pacific for Oanda in Singapore, wrote in a note.

“There small to advise this new Fed chair will be any reduction contingent on mercantile information than his predecessor, so a jury should sojourn out about a quicker gait of seductiveness rate normalisation,” Innes added.

Powell will now attest on a executive bank’s semi-annual news on financial process and a economy on Tuesday, Feb. 27 before a U.S. House of Representatives’ Financial Services Committee.

The cabinet had formerly scheduled his coming for Wednesday, Feb. 28. The conference will be hold during 10 a.m. (1500 GMT), pronounced a committee, that did not yield a reason for a change.*:nL1N1OI0X0

Against a yen, a dollar eased 0.1 percent to 106.75 yenJPY= .

The euro hold solid during $1.2298EUR= , after descending 1 percent final week as marketplace participants incited discreet toward a euro forward of a Italian ubiquitous choosing on Mar 4.

A German Social Democrats’ check of a members on fasten another bloc supervision with Chancellor Angela Merkel’s conservatives is also due that day, dual large domestic risk events for markets.

Sterling edged adult 0.1 percent to $1.3981GBP=D3 .

There was resigned greeting in early Asian trade to a journal talk expelled on Saturday, that suggested that a Bank of England competence need to lift British seductiveness rates rather earlier than Deputy Governor Dave Ramsden had approaching if salary expansion picks adult early this year.

Ramsden was one of dual policymakers who against a BoE’s preference in Nov to lift seductiveness rates for a initial time in a decade, though appears to have shifted his position rather in remarks published by a Sunday Times.*:nL8N1QE0M2

(Reporting by Masayuki Kitano; modifying by Kim Coghill) ((; +65-6417-4682; Reuters Messaging: rm://


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