The dollar fell on Thursday after the Federal Reserve cut interest rates by 50 basis points and revised its monetary policy outlook.
The dollar index, which measures the greenback against a basket of six major currencies, fell 0.30 percent to 100.57. It had slipped to its lowest level in more than a year at 100.21 in the previous session.
The Australian and New Zealand dollars were supported by encouraging local data.
The Australian dollar rose 1.05 percent to $0.6834.
Meanwhile, the New Zealand dollar rose 0.89 percent to $0.6263 after data showed New Zealand’s economy contracted 0.2 percent in the second quarter, better than expectations of a 0.4 percent contraction.
The dollar rose 0.54 percent against the yen to 143.07. The euro rose 0.46 percent to $1.1169, but remained below a three-week high hit in the previous session.
The Norwegian crown rose in London trading and gained slightly after the central bank left interest rates unchanged but said it planned to cut them in 2025. The crown was last up 0.64 percent at 10.4550 against the dollar.
The pound rose 0.45 percent to $1.3287 after hitting a peak of $1.3298 in the previous session, its highest level since March 2022.
#Dollar #falls #interest #rate #cut