Dollar slides as Fed adjusts policy

Friday, 28. August 2020 10:51

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.

Related Links: 
Author:
Breaking the News / JC