Investing.com – The U.S. dollar stabilized Thursday after a sharp overnight drop in the wake of Fed Chair Jerome Powell ruling out any rate hikes, while the Japanese yen was volatile amid intervention talk.
At 06:00 ET (10:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 105.645, after falling 0.6% overnight.
Powell rules out further rate hikes
The kept interest rates unchanged at the conclusion of its latest policy-setting meeting on Wednesday, as widely expected, with Fed Chair acknowledging that fighting inflation was taking longer than…
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