The dollar fell on Thursday after the U.S. Federal Reserve signaled a less hawkish future outlook than some had anticipated. The dollar is on track for its third weekly decline in a row, hurt by expectations of interest rate cuts next year. This followed the U.S. Federal Reserve's pushback against bets on monetary tightening to the degree some expected, giving investors confidence to sell the currency while betting on two more rate cuts next year.
U.S. Dollar Falls as Fed Signals Potential Monetary Easing
The U.S. dollar is on track for its third consecutive weekly drop as investors bet on two interest rate cuts next year, following the Federal Reserve's less aggressive stance.