New york: The US dollar edged up from its lowest level in close to a week on Wednesday after Federal Reserve Chair Jerome Powell struck a cautious tone on further easing. The movement in the currency market reflects traders' reactions to Powell's comments, which have provided some support to the dollar.
According to Qatar News Agency, the US dollar index, which measures the currency against six major rivals, added 0.1% to 97.361. The gains were also evident against the yen, with the dollar adding 0.2% to 147.88 yen. Meanwhile, the euro saw a slight decline, losing 0.1% to $1.1800, while sterling fell by 0.1% to $1.3510.
Australia's dollar experienced a gain, moving up by 0.3% to $0.6620. In contrast, the New Zealand dollar remained relatively stable, showing little change at $0.5858. These movements highlight the varied responses of different currencies to the current economic signals from the Federal Reserve.