Key Points
NEW YORK (Reuters) The dollar was steady against the euro on Thursday and fell against the yen after Federal Reserve Chair Jerome Powell pushed back against bets of early U.S. rate cuts...
Powell said on Wednesday that rates had peaked and would move lower in coming months, with inflation continuing to fall and an expectation of sustained job and economic growth...
But he declined to declare victory in the U.S. central banks two-year inflation fight, vouch that it had achieved a sought-after soft landing for the economy or promise that rate cuts would come as soon as the Feds March 19-20 meeting, as investors had hoped in the run-up to this weeks policy decision...
The common theme thats emerging from central bankers is a reluctance to indulge the markets pricing on rate cuts, said Adam Button, chief currency analyst at ForexLive in Toronto...
While the ECB and the Fed are hinting at rate cuts, the Bank of Englands reticence for these discussions continues to make it stand out as an outlier, said Kyle Chapman, FX market analyst at Ballinger & Co...
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