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Dollar falls further versus Europe into the close- GBP/USD eyes 1.28 now
The dollar is falling back further heading into the wider European market close. The comments from the Fed boss have really served to shunt the US currency lower, against all its major counterparts bar the Yen. The EUR/USD is now lifting closer to 1.0950 and the GBP/USD has almost printed a trade above 1.2800. The weaker dollar comes as US stocks advance further following comments from Powell, suggesting the Fed is not far now from moving to lower interest rates. Now, I am sure this dovish language may yet be walked back on by other Fed voters ahead of the weekend, but right now the markets have latched onto this and taking the opportunity to push stocks higher and the dollar lower
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