Dollar recoils as Fed douses hawkish bets

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar was nursing its sharpest fall in more than a month on Thursday after the U.S. Federal Reserve raised its benchmark interest rate by 50 basis points but poured cold water on the idea that even larger rises could lie ahead. The U.S dollar index toppled from a five-year high and fell 0.9% overnight to 102.450. Antipodean currencies surged, especially the Aussie dollar, which enjoyed its biggest one-day percentage gain in over a decade as investors dialled back bets on the Fed staying ahead of Australia’s central bank. The euro rose nearly 1% and l…

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