Investing.com – The US dollar steadied Thursday, underpinned by rising Treasury yields after hawkish comments from the Federal Reserve and strong economic data furthered bets on a slower pace of rate cuts.
At 04:35 ET (09:35 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely unchanged at 108.920, just shy of the two-year high it touched last week.
Trading ranges are likely to be limited Thursday, with US traders on holiday to honor former President Jimmy Carter, with a state funeral due later in the session.
Dollar retains strength
The of the Fed’s December meeting showed policymakers increasingly geared towards a slower pace of rate cuts in 2025 amid new inflation concerns, while recent jobs data has pointed to underlying strength in the labor market.
Additionally, Fed officials saw a rising risk that the incoming Trump administration’s plans may slow economic growth…
