The dollar index lost some momentum today following an over half a percent rally in the precious session amid hawkish comments from Federal Reserve Chair Jerome Powell. Fed Chair remarked that another rate cut in December is uncertain. He stated at the post-meeting press conference that another rate cut in December is far from certain, pushing the yield on the 10-year Treasury above 4%. The Fed delivered a widely expected quarter-point rate cut and announced plans to end its balance sheet drawdown on December 1. Meanwhile, the dollar index that measures the greenback against a basket of currencies is trading at 98.97, down marginally on the day after having hit a two-week high of 99.17 yesterday.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app