Dollar index slips below 100 after Fed speak

21 March, 2017

The dollar slipped Tuesday as Fed members signaled a slower pace of tightening than the market had been expecting.The dollar index was off 0.22% at 99.94 at 03:30 ET after a high of 100.18.Fed member Charles Evans indicated he would be comfortable with a total of three hikes this year if the U.S. economy remains on track.Fed member Neel Kashkari warned against rushing to raise rates.Kashkari was the sole dissenter in the FOMC's decision last week to raise its target range to 0.75%-1.0%.More Fed members are due to speak later Tuesday. Chair Janet Yellen speaks Thursday.The euro was firm above $1.07 after the French presidential elections debate on Monday.Centrist Emmanuel Macron emerged with his status as the front-runner intact.The pound steadied as Britain set to trigger Article 50 to leave the EU on March 29.U.K. inflation data are due for release later in the session.


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