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financial market shocked

24 Sep, 2020

US dollar rose and gold fell sharply

Powell: the Federal Reserve has no plan to make "significant" changes to the public lending program.

Daley: the Federal Reserve will be guided by inflation. The Federal Reserve is committed to allowing the economy to continue to operate and reduce unemployment until wages and prices begin to rise. The Fed will not specify a specific maximum number of employees.

The U.S. dollar rose for the fourth consecutive day on Wednesday, rising to more than eight week highs, and the dollar index rose 0.42% to near 94.37, after hitting its highest level of 94.435 since July 24.

Spot gold fell 2.33% at one time, breaking the low since July 22 to 1855.88 US dollars / ounce. The continuous rise of the US dollar put pressure on gold prices. In addition, US stocks fell sharply, and the market was eager to sell gold in exchange for cash to make up for losses elsewhere.