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The U.S. dollar has seen demand in early European trade Thursday, as risk aversion reigned on the back of Federal Reserve Chairman Jerome Powell's sobering outlook for U.S. economic growth and his ruling out of negative interest rates.
At 2:55 AM ET (0655 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.37, up 0.1%. EUR/USD fell 0.1% to 1.0807, while GBP/USD dropped 0.3% to 1.2187.
Powell joined a list of policymakers to fend off the notion of negative U.S. rates in a webcast Wednesday. He also pledged to use the U.S. central bank's power as needed, but suggested that it might not be enough to avoid deep economic damage without more fiscal support.
Source : Investing.com