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Dollar extends gains as Powell confirmation gets on under way

November 28, 2017

The U.S. dollar added to previous gains against its major rivals on Tuesday, as traders braced for remarks from Jerome Powell, the Federal Reserve official nominated to take the baton from Chairwoman Janet Yellen when her term ends in February.

On the data docket, consumer confidence for November beat MarketWatch consensus expectations by reaching a 17-year high, giving the dollar an additional push.

Where are currencies trading?

The ICE U.S. Dollar Index DXY, +0.25% was 0.3% up at 93.148, building on Monday’s modest gain. The gauge remains down for the year, showing a drop of 9%. The broader WSJ U.S. Dollar Index BUXX, +0.13% was 0.2% higher at 86.59.

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