Dollar steadies ahead of Powell testimony

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The dollar lingered below recent highs on Tuesday as traders looked to U.S. policymakers for hints on the prospect of rising yields. The New Zealand dollar plunged after the country’s housing reforms eased policy-tightening expectations.

The Turkish lira steadied after a 7.5% drop on Monday after President Erdogan sacked a hawkish central bank chief. The dollar index was flat at 91.831 in Asia. 

The dollar was 0.1% lower to 108.74 against the yen but steadied at $1.1928 on the euro. It advanced against the pound, Aussie, and kiwi.

The kiwi fell as much as 1% and stood at $0.7093 in Asian trade. The Aussie dropped 0.4% to $0.7711.

The pound slid 0.2% to $1.3845, while the Canadian dollar fell to C$1.2544 against the dollar. The Norwegian crown dropped almost 0.2%.

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