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USD/RUB Slips, Approaches April Lows


‌‌(M1)‌‌ Resistance Remains Intact

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  • Q on the $120bn pace of purchases, Powell says that Fed's current policy stance is "appropriate". (Basically reading off the Jan FOMC statement at this point.)
  • Asked what to do if things changed "materially", says would use its tools to foster achievement of our goals.
  • Questioning now moving on to what Fed policy means for workers (which is the subject of the WSJ event)... So that's probably all for market interest in the Powell appearance