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Treasury Pulse227a

Global Forex MarketTHE dollar closed the week softer, down 0.25% to 90.13 but managed to recover some of its early week losses following Fed chair Powell’s upbeat speech during his two-day Congressional testimony as well as a slew of strong data release, which triggered a selling wave in the US Treasury market.

In summary, Powell said that the central bank was still far away from deciding when to taper its asset purchases and expected economic activity to improve later this year.