FOREX-Dollar jumps on hawkish Powell testimony

(Recasts with Powell's comments, updates prices) By Karen Brettell NEW YORK, March 7 (Reuters) - The dollar extended gains against a basket of currencies on Tuesday after Federal Reserve Chairman Jerome Powell said that the U.S. central bank will stay the course until the job is done, adding that the ultimate level of interest rates is likely to be higher than previously anticipated. Powell also said that the Fed is prepared to increase the pace of rate hikes if data indicates it is warranted. That comes after the bank slowed the pace of its tightening to 25 basis points at its last two meetings, following larger hikes last year. The dollar index was last up 0.91% on the day at 105.2. The euro dropped 0.84% to $1.0593. The greenback gained 0.68% to 136.85 Japanese yen .

======================================================== Currency bid prices at 10:11AM (1511 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change

Session
Dollar index 105.2000 104.2600 +0.91% 1.652% +105.2200 +104.1100 Euro/Dollar $1.0593 $1.0684 -0.84% -1.13% +$1.0695 +$1.0591 Dollar/Yen 136.8500 135.9250 +0.68% +4.38% +136.8500 +135.5600 Euro/Yen 144.95 145.17 -0.15% +3.31% +145.4400 +144.6100 Dollar/Swiss 0.9395 0.9308 +0.93% +1.61% +0.9398 +0.9288 Sterling/Dollar $1.1888 $1.2027 -1.13% -1.68% +$1.2065 +$1.1887 Dollar/Canadian 1.3721 1.3612 +0.80% +1.27% +1.3724 +1.3600 Aussie/Dollar $0.6604 $0.6732 -1.88% -3.10% +$0.6748 +$0.6605 Euro/Swiss 0.9951 0.9942 +0.09% +0.57% +0.9965 +0.9926 Euro/Sterling 0.8908 0.8880 +0.32% +0.72% +0.8910 +0.8858 NZ $0.6142 $0.6197 -0.89% -3.27% +$0.6221 +$0.6140 Dollar/Dollar
Dollar/Norway 10.6080 10.4290 +0.87% +7.19% +10.6120 +10.4060 Euro/Norway 11.2441 11.1294 +1.03% +7.15% +11.2510 +11.1067 Dollar/Sweden 10.6605 10.4478 +1.16% +2.43% +10.6690 +10.4202 Euro/Sweden 11.2923 11.1629 +1.16% +1.28% +11.3110 +11.1400

(Reporting by Karen Brettell; editing by Jason Neely)

Reuters

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FOREX-Dollar jumps on hawkish Powell testimony

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