Dollar drops as Fed cuts rates, traders unwind some Trump trades

(Reuters) – The U.S. dollar slightly pared losses on Thursday after the Federal Reserve cut interest rates by 25 basis points, as was widely expected, with policymakers taking note of a job market that has “generally eased” while inflation continues to move towards the U.S. central bank’s 2% target.

The dollar index was last down 0.49% at 104.59, while the euro gained 0.44% to $1.0775. The greenback was down 0.85% at 153.31 Japanese yen.

This post is originally published on INVESTING.

  • Related Posts

    Oil prices ease on fears of higher output, sluggish demand

    By Katya Golubkova and Trixie Yap (Reuters) -Oil prices slipped in early trade on Thursday, reversing most of the previous session’s gains, weighed down by worries of higher global production…

    Asia FX weak as dollar surges to 1-year high on sticky inflation; Powell awaited

    Investing.com– Most Asian currencies weakened on Thursday, while the dollar rose to a one-year high on data showing continued stickiness in U.S. inflation, with focus now turning to an upcoming…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Oil prices ease on fears of higher output, sluggish demand

    • November 14, 2024
    Oil prices ease on fears of higher output, sluggish demand

    Asia FX weak as dollar surges to 1-year high on sticky inflation; Powell awaited

    • November 14, 2024
    Asia FX weak as dollar surges to 1-year high on sticky inflation; Powell awaited

    Oil prices muted after mixed US inventory data; more demand cues awaited

    • November 14, 2024
    Oil prices muted after mixed US inventory data; more demand cues awaited

    Oil prices edge down, forecasts for higher oil output, weak demand growth weigh

    • November 14, 2024
    Oil prices edge down, forecasts for higher oil output, weak demand growth weigh

    Japan planning $87 billion extra budget to fund stimulus package, paper says

    • November 13, 2024
    Japan planning $87 billion extra budget to fund stimulus package, paper says

    Oil rebounds slightly on short-covering as strong dollar caps gains

    • November 13, 2024
    Oil rebounds slightly on short-covering as strong dollar caps gains