Dollar falls broadly after repeated dovish comments by Fed's J. Powell

Although the greenback pared intra-day losses made in Asia and European morning and caught a bid in New York due to rally in U.S. Treasury yields, dollar fell broadly in tandem with U.S. yields after Fed's J. Powell repeated his bearish comments on the last day of his 2-day tesitmony on Capital Hill.  
  
Reuters reported Powell reiterated on Wednesday that U.S. interest rates will remain low and the Fed will keep buying bonds to support the U.S. economy. Powell's remarks to the House of Representatives Committee on Financial Services mirrored his testimony before the Senate on Tuesday.   
  
Versus the Japanese yen, dollar remained on the front foot and rose from 105.20 in Australia to 105.56 in Asia on rise in U.S. Treasury yields as well as active selling in jpy. The pair then rallied to a 6-day high of 106.10 in New York before retreating to 105.83 on profit-taking.  
  
The single currency gained to 1.2166 in Asian morning before retreating to 1.2144 but then rose to 1.2175 in European morning on cross-buying in euro. However, renewed selling emerged and knocked the pair down to session lows of 1.2110 in New York on renewed usd's strength. Later, euro rebouned to 1.2173 after Fed Powell's dovish comments.  
  
The British pound went through a volatile session. Although cable spiked up to a fresh 34-month high at 1.4241 in Asian morning on cross-buying in sterling, price then retreated to 1.4151 before recovering to 1.4207 at European open. However, the pair then dropped to 1.4083 in New York on selling in gbp together with usd's strength on rise in U.S. yields. Cable later recovered on intra-day usd's decline in New York afternoon following Fed Powell's comments.  
  
Data to be released on Thursday :  
  
Australia capital expenditure, building capex, New Zealand NBNZ business outlook, NBNZ own activity, Japan coincident index, leading economic index, Germany GfK consumer sentiment, France consumer confidence, Italy business confidence, consumer confidence, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, and U.S. durable goods, durables ex-transportation, durables ex-defense, GDP, GDP deflator, core PCE price index, PCE price index, initial jobless claims, continued jobless claims, average weekly earnings, pending home sales, KC Fed manufacturing index.