After Federal Reserve Chairman Jerome Powell told US lawmakers the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending. USD increases against a basket of major currencies on tuesday.
Powell commit strike a balance between the risk of an overheating economy and the need to keep growth on track. Powell 's comments were generally positive for the dollar. The dollar index was up 0.26 percent at 90.089.
The fed is expected to approve its first rate increase of 2018 at its next policy meeting in march, when it will provide fresh economic projections and Powell will hold his first news conference. Expection three rate increases this year.
