Dollar recovers from Fed blow; Brexit woes hound pound Mar 21 2019 [Reuters]
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Source: Reuters
Dollar recovers from Fed blow; Brexit woes hound pound | Reuters 3 Min Read NEW YORK (Reuters) - The U.S. dollar rebounded on Thursday, recouping most of the ground lost in the previous session after the Federal Reserve jolted markets by abandoning all plans to raise rates this year, a signal its three-year campaign to normalize policy might be at an end. The dollar index, which measures the greenback against six major currencies, was up 0.53 percent at96.271. The index fell 0.6 percent on Wednesday, closing below its 200-day moving average for the first time in more than 10 months. On Wednesday, the Fed took a dovish stance, signaling it will not hike interest rates this year in the face of a slowing economy, while announcing a plan to end its balance sheet reduction program by September. “It makes sense for the U.S. dollar to have fallen after the Fed meeting, but similar to what occurred with the euro after the March 7 meeting, the reaction may have been overdone,” said Juan Perez,
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