Dollar slides as Fed adjusts policy
The dollar traded lower against major currencies on Friday as traders assessed the impact of the Federal Reserve’s latest policy update, which will see the central bank target a 2% inflation rate on average.
The dollar rose in the hours following the Fed’s Jackson Hole announcement on Thursday, while Treasury yields jumped to multi-level months.
The euro gained 0.73% against the dollar at 4:45 am ET, buying 1.19088. At the same time, the British pound jumped 0.58% versus the greenback to go for 1.32790. Meanwhile, the US currency was down 0.65% compared to the Japanese yen, buying 105.872.
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