Dollar dips, Powell testimony and jobs data in focus

By Karen Brettell NEW YORK (Reuters) – The greenback slipped against a basket of currencies on Monday as investors awaited testimony by Federal Reserve Chair Jerome Powell and jobs data due later this week for further indications on how much higher the U.S. central bank is likely to raise interest rates. Powell’s testimony before Congress on Tuesday and Wednesday and Friday’s jobs data “are going to be the key events this week that really substantiate the data that we got last month with respect to the January” numbers, said Bipan Rai, North American head of FX strategy at CIBC Capital Markets…

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