Forex

Dollar Steps Down After Comments From Fed

Dollar-Steps-Down-After-Comments-From-Fed

In Asian markets, dollar once again slipped in early trading on Thursday. However, in the session before that, it had made gains following warnings from officials of the US Federal Reserve. It was based on the economic recovery from the pandemic. The data was disappointingly low from both Europe and the US.

Meanwhile, the US Index fell to 94.422, which is 0.02 per cent low at 2:04 AM GMT. On Wednesday, the Fed officials had stressed on the requirement of a stimulus package to edge past the challenging period and expedite the economic recovery.

Notably, the dollar had been rallying in the last few weeks following the dampened enthusiasm of European investors following the growing Covid-19 cases.

Interestingly, the Fed data showed that business activities in the US slowed down in September.

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