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.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?