Dollar falls on Fed’s dovish stance

29.07.2021 - Korneychuk Evgeniya
Dollar falls on Fed’s dovish stance

The dollar placed around a two-week low after dropping on Thursday in Asian trade. It was dragged down by the Federal Reserve Chairman Jerome Powell’s remark of an unlikely interest rate hikes.

The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.17% crash to 92.157. This came after three consecutive declines during the previous session.

The USD/JPY pair shed 0.10% to 109.78.

The AUD/USD pair inched up 0.03% to 0.7378, while the NZD/USD pair climbed 0.32% to 0.6969.

The USD/CNY pair slid 0.26% to 6.4738, while the GBP/USD pair was up 0.21% to 1.3927.

The dollar retreated to a two-week low of $1.1849 against the euro, a pause from its month-long acceleration.

The central bank gave its latest policy decision on Wednesday, highlighting the need in facing challenges in the job market before it starts tapering its assets.

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