Powell's statement makes the market mixed! What do you want to be?

 The market is still evaluating Powell's statementPowell reiterated that inflation is beginning to declinePowell's stance changed slightly due to strong NFP dataCurrency markets were mixed as investors were still digesting the latest statement from Federal Reserve (Fed) Chairman Jerome Powell.The head of the US central bank continued to repeat his remarks at last week's policy meeting, saying inflation had started to ease.However, what is different is that he warned that interest rates could rise more than market expectations, if employment data is strong or high inflation continues.This suggests that last week's strong NFP jobs report has slightly changed Powell's stance on further interest rate hikes.However, at the same time inflation continues to show a decline giving reason to the Fed to reduce the tightening in its policy.Currency reactions were somewhat mixed, seeing the US dollar initially decline before rising again and then flat in the Asian session today.Against a basket of major currencies, the dollar index, which measures the strength of the greenback, held steady at a 3-week high of 103.33.Meanwhile, the trading of other major currencies also showed the same movement which initially rose, but fell again and was flat at the beginning of the Asian session.Overall, not much change can be seen from currency movements following Powell's latest statement.The euro remained weak even as European Central Bank (ECB) policymakers said interest rate cuts were not in their consideration in the near future.