2024-02-01T08:29:09+00:00
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/ The dollar stabilized near its highest level in seven weeks against the euro, on Thursday, which it reached after Federal Reserve Chairman Jerome Powell ruled out the idea of cutting interest rates next March.
The dollar index, which measures the greenback’s performance against six major currencies including the euro, yen and pound, was steady at $103.60 in afternoon Asian trading, after rising 0.19% on Wednesday.
The euro fell 0.12% to $1.0805, retreating towards its lowest level since December 13, 2023, which it recorded yesterday, Wednesday, at $1.0795.
The pound fell 0.09% to $1.2676. The Bank of England is likely to keep interest rates unchanged, but markets expect a cut by June.
Against the Japanese currency, the dollar fell 0.11% to 146.775 yen, after falling 0.47% on Wednesday.