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U.S. Dollar Bounces as Fed Surprise Eases

The dollar drifted off a seven-month low against a basket of major currencies on Friday as investors unwound some of the bearish trades put on in reaction to the Federal Reserve’s shock decision to maintain its massive bond-buying stimulus.

The turnaround came as U.S. Treasury yields rose after a string of upbeat U.S. data suggested that rising market rates, that had so concerned the Fed, were weighing only modestly on the economy.

As a result, the dollar index climbed to 80.365, pulling up from a seven-month trough of 80.060 plumbed on Wednesday.

CNBC [1]

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