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FOREX-Dollar edges higher, but stuck in range before Powell speech

    * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E

 (Adds details, updates prices)
    By Karen Brettell
    NEW YORK, Aug 26 (Reuters) - The dollar gained on Wednesday
but stayed within a relatively tight range a day ahead of a
highly anticipated speech by Federal Reserve Chairman Jerome
Powell.
    Powell is scheduled to address the U.S. central bank’s
policy framework review, and investors are focused on whether he
will hint at shifting the Fed’s inflation target to an average.
    "Targeting average inflation over time rather than setting a
fixed 2% goal would likely mean lower rates for longer," said
Raffi Boyadjian, senior investment analyst at online broker XM.
"If the Fed confirms such a move, the greenback would stand
little chance of a meaningful rebound anytime soon."
    The Fed is thought to be still finalizing details of its
review, however, with an announcement expected at its September
meeting.
    That risks leaving investors disappointed on Thursday if
Powell does not announce the change.
    “Markets are anticipating a dovish lean from Powell,"
Jonathan Coughtrey, managing director at Action Economics, said
in a report. "Any sense of disappointment could catalyze a
rebound phase in the dollar, which has been trending lower since
March.”     
    The dollar index, which tracks the greenback's value against
a basket of currencies was up 0.15% at 93.14.
    The index hit a session high of 93.37 after data showed that
U.S. durable goods orders increased more than expected in July,
but fell back again.
    The euro dipped 0.26% against the greenback to
$1.1802.
    The yuan rose toward a seven-month high at $6.6879
after U.S. and Chinese trade officials reaffirmed their
commitment to a Phase 1 trade deal, which eased concerns about a
diplomatic standoff between the world's two-largest economies.

    ========================================================
    Currency bid prices at 9:35AM (1335 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1802        $1.1833     -0.26%         +5.28%      +1.1840     +1.1773
 Dollar/Yen       JPY=        106.2600       106.3600    -0.09%         -2.39%      +106.5500   +106.1700
 Euro/Yen         EURJPY=     125.43         125.88      -0.36%         +2.85%      +126.1400   +125.2800
 Dollar/Swiss     CHF=        0.9095         0.9075      +0.22%         -6.02%      +0.9120     +0.9075
 Sterling/Dollar  GBP=        1.3155         1.3150      +0.04%         -0.78%      +1.3165     +1.3118
 Dollar/Canadian  CAD=        1.3173         1.3168      +0.04%         +1.46%      +1.3205     +1.3159
 Australian/Doll  AUD=        0.7213         0.7194      +0.26%         +2.73%      +0.7214     +0.7188
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0735         1.0740      -0.05%         -1.08%      +1.0759     +1.0734
 Euro/Sterling    EURGBP=     0.8970         0.8997      -0.30%         +6.10%      +0.9006     +0.8966
 NZ               NZD=        0.6567         0.6546      +0.32%         -2.51%      +0.6573     +0.6545
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        8.9284         8.9646      -0.40%         +1.71%      +8.9847     +8.9310
 Euro/Norway      EURNOK=     10.5390        10.5974     -0.55%         +7.12%      +10.6200    +10.5379
 Dollar/Sweden    SEK=        8.7398         8.7532      -0.40%         -6.50%      +8.7891     +8.7425
 Euro/Sweden      EURSEK=     10.3160        10.3573     -0.40%         -1.46%      +10.3736    +10.3170
 
    
 (Reporting by Karen Brettell; additional reporting by Julien
Ponthus in London; editing by Jonathan Oatis)
  
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