What weight will the dollar carry? All eyes on Portugal
Kevin Warsh, Chair of the Federal Reserve, will publicly speak for the first time since the last Fed policy announcement on Wednesday.
The banker will join a panel discussion moderated by CNBC as part of the Forum on Central Banking 2026 in Sintra, Portugal.
The debate will also feature European Central Bank Chair Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem.
Read also: The dollar’s rate under Fed policy pressure. Inflation surprise is just the beginning? It could shake USD/PLN and EUR/USD
It is expected that Warsh’s speech will provide additional clues about the direction of monetary policy the U.S. central bank intends to pursue after the term of former Fed Chair Jerome Powell ends.
As CNBC reminds, the event takes place amid rising tensions involving the White House.
The U.S. Supreme Court ruled on Monday that Trump has no authority to dismiss Fed Governor Board member Lisa Cook.
Recall that last year Trump said Cook would be removed from office for alleged irregularities in credit documentation submitted before she began working at the central bank in 2022.
Cook, likely denied a fair trial under the 5th Amendment to the U.S. Constitution, had warned that Trump’s actions were an attack on the central bank’s independence.
Nevertheless, the latest court ruling still leaves an open possibility of dismissing Cook or any other Fed member in the future.
“Another outcome had a separate ruling in which the court expanded the president’s powers, confirming the legitimacy of Trump’s dismissal of Federal Trade Commission Commissioner Rebecca Slaughter,” CNBC reports.
Meanwhile the United States and Iran have begun a new round of peace talks in Qatar, though their outcome remains highly uncertain.
More on this was written in the article: Dollar rate before a break? Analysts warn. The fate of USD/PLN and EUR/USD hangs in the balance
See also: Will the dollar surprise again? Expert issued forecast for USD/PLN and EUR/USD. “It’s hard for me to believe there will be no more fires”
Dollar and euro rates on Wednesday, July 1
The dollar to zloty on Wednesday, July 1 is at 3,76 PLN.
“USD growth dynamics have clearly weakened,” analysts at ING Think said.
“The shift in investors’ risk appetite currently speaks against another sharp rise, at least until Warsh’s address in Sintra and Thursday’s employment data provide a clearer direction,” they added.
Chart. Dollar to zloty (USD/PLN)
Source: Trading Economics.
The euro to dollar rate reaches 1,14 USD.
Read also: Dollar rate on a long path to 4 PLN? Expert issued forecasts for USD/PLN and EUR/USD. “The dollar could gain”
Chart. Euro to dollar (EUR/USD)
Source: Trading Economics.
Read also: Dollar rate before a chance to break? Expert: “Capital will flow back to USD”
See also: Dollar rate before a “nervous and dynamic” move, euro awaits a drop? Expert issued forecast for USD/PLN and EUR/USD
Sources: CNBC, ING Think.
