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Powell early comments give no clues to policy change- Dow Jones falls to below 39,200
The Fed boss, Jerome Powell is now addressing the US Senate Banking committee for the first of two days of monetary policy testimony. Powell has just given very little clues in his immediate remarks; that the Fed is about to alter monetary policy soon. The markets tried to initially accentuate the dovish side to those comments, but in truth there was nothing much in his opening remarks to endorse that and now the dollar has edged a little higher. The Dow Jones was falling ahead of this and the divergence between that index and the Nasdaq 100 was once again in stark evidence. The Dow Jones has traded to a low so far at 39,194. It is currently trading at 39,203
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