Before Powell's speech and CPI data, the US dollar index traded steadily

ChainCatcher news, according to Jinshi reports, the dollar is trading steadily as investors focus on Federal Reserve Chairman Powell's speech and look forward to the U.S. inflation data to be released tonight. Powell stated during his testimony before the Senate Banking Committee on Tuesday that the Federal Reserve is not in a hurry to cut interest rates.

He will speak to the House Financial Services Committee tonight at 11 PM. Credit Suisse analyst Ipek Ozkardeskaya said in a report that lower-than-expected inflation data would alleviate concerns about price pressures and weaken the dollar.

Conversely, stronger-than-expected inflation data could support further increases in U.S. Treasury yields and the dollar, while dampening risk appetite.