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Dollar Index: Daily Analysis & Forecast

Daily Market Report

The dollar fell broadly on Thursday, with risk-sensitive Asian currencies leading gains, as investors cheered a likely peak in U.S. interest rates after the Federal Reserve left them on hold. Fed Chair Jerome Powell left the door open to another hike, but with the funds rate target ceiling at 22-year high of 5.5% he said the risks of doing too much or too little were now balanced. Markets took that as a green light to stick with a sub 20% chance that rates will rise in December. Ten-year Treasury yields are down 20 basis points from Wednesday’s highs, equities rallied and risk-sensitive currencies bounced.

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