Watch live, Fed's Chair Powell WSJ questions, US dollar to find support on hawkish rehtoric?

Developing story

The US dollar is crumbling, this week as investors survey the landscape of the global economy, not just in the US. The greenback has fallen victim to improved risk sentiment, helping the likes of the euro that has been extending its rebound from a five-year low touched last week, and putting more distance between the common currency and parity with the US dollar.

However, in what could throw the US dollar bulls a lifeline, the Federal Reserve Chairman Jerome Powell is taking the Wall Street Journal's questions on the US economic outlook and its implications for the labour market, inflation and central-bank policies.

Watch live

Key notes

•  FED'S POWELL: WE KNOW THIS IS A TIME FOR FED TO BE TIGHTLY FOCUSED ON GETTING INFLATION DOWN
• 17-May-2022 12:05:36 - FED'S POWELL: WE HAVE TOOLS AND RESOLVE TO GET INFLATION BACK DOWN
• 17-May-2022 12:05:37 - FED'S POWELL:
• 17-May-2022 12:05:56 - FED CHAIR POWELL: NO ON SHOULD DOUBT OUR RESOLVE - WALL STREET JOURNAL INTERVIEW
• 17-May-2022 12:06:10 - FED CHAIR POWELL: WE NEED TO SEE INFLATION COMING DOWN IN CONVINCING WAY
• 17-May-2022 12:06:42 - FED'S POWELL: ONGOING RATE INCREASES APPROPRIATE
• 17-May-2022 12:06:55 - FED'S POWELL: BROAD SUPPORT ON FOMC FOR HAVING ON TABLE 50 BPS AT NEXT TWO MEETINGS
• 17-May-2022 12:07:02 - FED'S POWELL: THAT IS SHORT OF A PREDICTION THOUGH
• 17-May-2022 12:07:11 - FED'S POWELL: THAT SAID, IF ECONOMY PERFORMS AS WE EXPECT WILL BE ON THE TABLE
• 17-May-2022 12:07:21 - FED'S POWELL: VERY DIFFICULT TO THINK ABOUT GIVING FORWARD GUIDANCE
• 17-May-2022 12:07:29 - FED'S POWELL: ECONOMY VERY UNCERTAIN, AS ARE OUTSIDE EVENTS
• 17-May-2022 12:07:47 - FED'S POWELL: MARKETS ARE PRICING IN A SERIES OF RATE HIKES‑
• 17-May-2022 12:07:56 - FED'S POWELL: WE LIKE TO WORK THROUGH EXPECTATIONS
• 17-May-2022 12:08:07 - FED'S POWELL: IT'S BEEN GOOD TO SEE MARKETS REACTING TO WHAT WE ARE SAYING
• 17-May-2022 12:08:16 - FED'S POWELL: FINANCIAL CONDITIONS OVERALL HAVE TIGHTENED SIGNIFICANTLY
• 17-May-2022 12:08:26 - FED'S POWELL: WHAT WE NEED IS TO SEE GROWTH MOVING DOWN FROM HIGH LEVELS
• 17-May-2022 12:08:34 - FED'S POWELL: WE NEED SUPPLY SIDE TO HAVE CHANCE TO CATCH UP
• 17-May-2022 12:08:41 - FED'S POWELL: WE NEED TO SEE GROWTH MOVING DOWN TO A LEVEL THAT'S STILL POSITIVE

More to come...

US dollar chart

The US dollar was testing the resistance of the wedge formation on the 15-min chart ahead of the event. 

More to come... 

About Fed chair Powell

Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. On November 2, 2017, President Donald Trump nominated Powell to serve as the next Chairman of the Federal Reserve. Powell assumed office as Chair on February 5, 2018.