Netherlands International: Fed’s Kevin Warsh’s upcoming speech may boost the US dollar.

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Gold Finance reported that on July 1, Chris Turner of ING Group said in a report that if Federal Reserve Chairman Kevin Warsh focuses on price stability in his speech at the European Central Bank forum in Sintra, Portugal at 1300 GMT, the U.S. dollar should remain firm. At his first Fed meeting as chairman in June, he emphasized the need to bring inflation back to the 2% target. Since then, data has shown that the core Personal Consumption Expenditures (PCE) price index rose 3.4% and a strong employment report was also released. Turner said that resisting market expectations of rate hikes would be "a big surprise," and instead his remarks pose "upside risks" for the dollar. The DXY dollar index rose 0.2% to 101.357, and ING believes it could return to 101.700-101.800 under the influence of Kevin Warsh's remarks.
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