Dollar holds below two-month highs as Fed policy in focus
TREASURIES-10-year Treasury yield stays below 1.5% after Biden infrastructure deal
The dollar was steady on Thursday as investors evaluated the likelihood that the U.S. Federal Reserve will be more aggressive in stamping out high inflation if it persists, while the pound weakened after the Bank of England made no changes to its monetary policy.
Fed policymakers have been offering differing viewpoints on how long inflation is likely to stay high and when it will be appropriate to tighten monetary policy after the Fed last week surprised markets by forecasting two rate hikes in 2023.
The dollar index was little changed on the day against a basket of currencies at 91.790, holding below a two-month high of 92.408 reached on Friday after the Fed meeting.
Reference: Reuters
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