The euro held just above a 16-month trough at $1.1238, having found a measure of support from stronger-than-expected European business survey
Jerome Powell's second term will be more challenging
Spot gold was down 0.4% at $1,797.16 per ounce by 1022 GMT
Federal Reserve Chair Jerome Powell gambled last year that his ultra-low rate policies would help revive an economy that had sunk deep into a pandemic-induced recession
The dollar set a 16-month high against the euro after Federal Reserve Chair Jerome Powell was nominated for a second term by President Biden
Jerome Powell would be the right apolitical candidate to continue heading the US Federal Reserve, President Joe Biden said.
The Dow Jones Industrial Average ended slightly higher
Powell, 68, will need to be confirmed by the Senate, currently controlled by Biden's Democratic party but closely divided
On all of the defining issues of the moment, US Federal Reserve chair has shown that his instincts are out of step with what the country needs
The pandemic recession fell hardest on lower-income workers and widened racial gaps: Powell
Powell is doubling down on the US central bank's new policy framework
Even in announcing a $15 bn monthly cut to its $120 bn in monthly purchases of Treasuries and mortgage-backed securities, the Fed did not signal when it may begin next phase of policy 'normalisation'
Will Fed chair Jerome Powell pull start reducing monetary supply even though GDP numbers for the September quarter were weak and inflation remains sticky?
What will be the economic impact of India's emission-reduction commitments at COP26? What role will Intel play in India's 5G and EV goals? Will the US Fed announce a taper today? All answers here
The Fed has signaled it will likely begin next month to taper its $120 bn in monthly purchases of Treasury bonds and mortgage-backed securities
The meeting underscores the growing importance of the US-India relationship, and increasing economic and financial ties between the two countries
Earlier on Tuesday, Atlanta Fed President Rafael Bostic said last month's jobs report displayed sufficient progress and endorsed a November start
It will take place on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Washington
"Well, thus far yes, but I'm just catching up to some of these assertions," Biden said on a visit to Michigan when asked by a reporter about confidence in the Fed's integrity and in Powell
Christina Parajon Skinner, an assistant professor at the Wharton School and former legal counsel at the Bank of England, probe the question.