The U.S. dollar climbed in early Thursday trading, retracing some of its losses from the previous session that it incurred after the Federal Reserve reiterated its dovish monetary policy stance.
The U.S. central bank cut its expectations for 2019 interest-rate increases from two to zero, downgraded its economic outlook as Chairman Jerome Powell stressed that it was a “great time” to be patient. The greenback, measured by the ICE U.S. Dollar Index DXY, +0.27% in response fell 0.7% and recorded its worst one-day percentage drop since Jan. 25 on Wednesday, according to FactSet.
