US Dollar Slips as Federal Reserve Rate Hike Bets Ease
The dollar retreated on diminished expectations of Federal Reserve rate hikes, while the Japanese yen held onto recent gains driven by suspected intervention.
The US dollar traded lower as market participants dialed back expectations for further Federal Reserve interest rate hikes. The shift in monetary policy sentiment weighed on the greenback across major currency pairs.
Meanwhile, the Japanese yen remained steady, poised to retain gains secured following recent suspected intervention measures by Japanese authorities to support the currency.
Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.
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