The dollar fell against most major currencies on Thursday after the US Federal Reserve opened the door to a pause in its aggressive tightening cycle, though markets were buffeted by risk aversion amid a rout in regional US bank shares.
In thinned Asian trade on Thursday, the British pound rose 0.2% to a roughly 11-month high of $1.25905, while the euro gained 0.19% to $1.1082, flirting with its recent one-year peak.
The US dollar index was last 0.14% lower at 101.09, after dropping more than 0.6% in the previous session.
The cautious risk sentiment kept the Japanese yen – a traditional safe haven in times of market turmoil – well supported, with the currency pushing up about 0.1% against the US dollar to 134.56.
The risk-sensitive Australian and New Zealand dollars reversed their earlier losses over the course of the Asian trade, with both currencies last up about 0.3% each to $0.6692 and $0.6249, respectively.
The European Central Bank (ECB) comes under the spotlight next, where expectations are for ECB policymakers to raise interest rates for the seventh meeting in a row later on Thursday.
Source: Qatar News Agency