- The Bloomberg Dollar Spot Index edges lower ahead of today’s Federal Reserve Chair Jerome Powell semi-annual testimony to the Congress. The Australian Dollar declined versus its peers after RBA increased their benchmark by 25 basis points as widely expected and suggested monthly CPI likely shows that inflation has peaked. USD/JPY trades near 136 and EUR/USD holds mid 1.20-1.21 range.
- French unions prepare themselves for a historical day of strikes in a sixth day of protests, causing severe disruption in transportation, to pretest against President Macron’s plan to raise the minimum retirement age. People are urged to work from home where possible, with subway and commuter trains being affected.
