Powell speech: Dollar strength is disinflationary at the margins

Eren Sengezer FXStreet

Europen Central Bank (ECB) President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB's annual Forum on Central Banking.

Key quotes

Powell: "Dollar strength is disinflationary at the margins."

Powell: "We working hard to get smarter about the supply side."

Bailey: "We do not target foreign exchange rate."

Bailey: "We are not surprised by the path of sterling."

Market reaction

GBP/USD stays on the back foot after these comments and was last seen losing 0.55% on the day at 1.2115.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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