US Dollar stabilizes post Jerome Powell's presser
The US Dollar Index, which tracks the value of the US Dollar against a basket of major currencies, remains above 108.00 following Federal Reserve Chair Jerome Powell’s remarks.
While the Fed left rates unchanged at 4.25%-4.50%, Powell’s press conference played down the significance of the inflation language change, easing concerns that the central bank is shifting toward a more hawkish stance.
The market reaction was mixed, with traders adjusting their rate cut expectations, now pushing the likelihood of a move beyond March. Meanwhile, US Treasury yields remain elevated, offering some underlying support to the Dollar.
Source: FXstreet
