Emerging market currencies have risen for four consecutive days, with little movement in the US dollar before Powell's testimony and the release of US CPI data
The Mexican peso rose to a two-week high against the US dollar, partially recovering from the "surprising June election results" setback. The South African rand, Polish zloty, Colombian peso, and other currencies also benefited from risk appetite, while the Brazilian real declined. Local media reported that Gabriel Galipolo will be appointed as the new head of the Brazilian Central Bank