The US Dollar remains close to five-month lows following the Federal Reserve's decision to maintain interest rates. Fed Chair Jerome Powell emphasized a cautious approach, noting no immediate need for policy changes. Ongoing trade tensions could drive inflation risks, providing potential temporary support for the dollar. However, dovish indications may push the currency down, especially with the Fed reducing its holdings redemption. Geopolitical developments may significantly influence the dollar's future, with Eastern European diplomacy potentially enhancing risk appetite and Middle Eastern tensions prompting a flight to safety.
The US Dollar held steady near five-month lows after the Federal Reserve decided to leave interest rates unchanged as expected.
Fed Chair Jerome Powell struck a cautious tone, emphasizing that there is no hurry to adjust policy.
Expectations of interest rates this year could also affect the market to the downside.
Geopolitical tensions could also play a pivotal role in shaping the dollar's trajectory.
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