Dollar holds onto losses as Fed's Powell stays patient on rate cuts
(Reuters) -The U.S. dollar held onto earlier losses on Tuesday after Federal Reserve Chair Jerome Powell said the U.S. central bank was in no rush to cut its short-term interest rate again. Powell said in testimony before the Senate Banking, Housing and Urban Affairs Committee that the view on rates reflected the U.S. economy being "strong overall," with low unemployment and inflation that remains above the Fed's 2% target. Powell will also testify before the House Financial Services Committee on Wednesday.