NEW YORK, July 18 (Xinhua) -- The U.S. dollar went up further on Wednesday as investors were digesting the Federal Reserve Chair Jerome Powell's first congressional testimony.
Powell said in his prepared remarks on Tuesday before the U.S. Senate Banking Committee that the U.S. economy is on the cusp of "several years" in which the job market remains strong and inflation stays around the Fed's 2 percent target.
He also downplayed the impact of current global trade policy discussions on the outlook for further monetary tightening.
Powell reiterated his viewpoints on Wednesday, which were interpreted by analysts that the central bank will continue to hike interest rates later this year.
The dollar index, which measures the greenback against six major peers, was up 0.14 percent at 95.076 in late trading.
In late New York trading, the euro was down to 1.1648 dollars from 1.1663 dollars in the previous session, and the British pound decreased to 1.3063 dollars from 1.3124 U.S. dollars in the previous session. The Australian dollar rose to 0.7402 dollar from 0.7390 dollar.
The U.S. dollar bought 112.85 Japanese yen, higher than 112.84 Japanese yen of the previous session. The U.S. dollar lost to 0.9991 Swiss franc from 0.9993 Swiss franc, and it went down to 1.3174 Canadian dollars from 1.3186 Canadian dollars. Enditem
