November 28, 2018 / 2:35 PM / 17 days ago

FOREX-Dollar steady before Powell speech

    * Investors wait on Powell speech for rate hike clues
    * Sterling gains before BoE Brexit analysis

 (New throughout, updates trading, adds comments to U.S. market
open, previous LONDON)
    By Karen Brettell
    NEW YORK, Nov 28 (Reuters) - The dollar index was little
changed on the day on Wednesday before Federal Reserve Chairman
Jerome Powell is due to speak, while sterling gained as
investors positioned before the Bank of England's release of its
analysis of Britain's exit from the European Union.
    Powell's speech at 12 p.m. EST (1700 GMT) will be evaluated
for any new indications of caution as global growth slows and as
the U.S. central bank comes under renewed criticism from
President Donald Trump for raising interest rates.
    The British government and the Bank of England are likely to
step up their warnings on Wednesday of a hit to the economy from
a no-deal Brexit, potentially helping Prime Minister Theresa May
to tackle deep opposition to her plan.
    The BoE will publish its assessment of the implications for
interest rates and its oversight of the banking sector arising
from different Brexit scenarios at 11:30 a.m. EST (1630 GMT).

    "I think people are waiting for the Powell luncheon speech,
as well as the Bank of England's Brexit analysis," said Win
Thin, global head of currency strategy at Brown Brothers
Harriman in New York.
    The dollar had been under pressure in recent weeks on signs
that the Fed might reduce the pace of rate increases amid
slowing global growth, peak corporate earnings and the
escalating trade tensions.
    "How concerned the Fed sounds about the current economic
slowdown will be seen as an indication as to how quickly a rate
pause might come," said Thu Lan Nguye, a currency strategist
with Commerzbank in Frankfurt.
    Investors also will focus on whether Powell addresses
growing hostility from Trump, who said in a Washington Post
interview on Tuesday he is "not even a little bit happy" with
the Fed chairman and that the central bank's policies are
hurting the economy.
     Minutes from the Fed's Nov. 7-8 meeting, to be released on
Thursday, will also be evaluated for further indications of how
many more times the U.S. central bank is likely to hike interest
rates.
    Investors are also focused on the G20 summit in Buenos Aires
on Friday and Saturday, where Trump and his Chinese counterpart,
Xi Jinping, are scheduled to discuss contentious trade matters.
    Trump said this week that it was "highly unlikely" he would
accept China's request to hold off a planned increase in
tariffs. That drove investors to safe-haven currencies such as
the dollar.
    
    ========================================================
    Currency bid prices at 9:12AM (1412 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1279        $1.1288     -0.08%         -5.98%      +1.1304     +1.1267
 Dollar/Yen       JPY=        113.8700       113.7700    +0.09%         +1.07%      +113.9000   +113.7200
 Euro/Yen         EURJPY=     128.44         128.44      +0.00%         -4.99%      +128.6900   +128.2700
 Dollar/Swiss     CHF=        0.9991         0.9987      +0.04%         +2.55%      +1.0002     +0.9982
 Sterling/Dollar  GBP=        1.2783         1.2747      +0.28%         -5.40%      +1.2805     +1.2733
 Dollar/Canadian  CAD=        1.3339         1.3293      +0.35%         +6.06%      +1.3342     +1.3291
 Australian/Doll  AUD=        0.7241         0.7223      +0.25%         -7.18%      +0.7247     +0.7223
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.1272         1.1276      -0.04%         -3.57%      +1.1290     +1.1266
 Euro/Sterling    EURGBP=     0.8823         0.8859      -0.41%         -0.68%      +0.8870     +0.8811
 NZ               NZD=        0.6794         0.6786      +0.12%         -4.12%      +0.6806     +0.6784
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        8.6006         8.6021      -0.02%         +4.80%      +8.6124     +8.5836
 Euro/Norway      EURNOK=     9.7007         9.7116      -0.11%         -1.49%      +9.7186     +9.6974
 Dollar/Sweden    SEK=        9.0843         9.1056      -0.34%         +10.76%     +9.1210     +9.0797
 Euro/Sweden      EURSEK=     10.2479        10.2824     -0.34%         +4.15%      +10.2870    +10.2470
 
 (Additional reporting by Tom Finn and Saikat Chatterjee in
London; Editing by Will Dunham)
  
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