After the Federal Reserve cut interest rates, the dollar recorded its worst one-day performance since September
2025-12-10 23:04:33
The dollar recorded its worst performance in nearly three months on Wednesday as Federal Reserve Chairperson Jerome Powell highlighted labour market risks while downplaying inflation concerns in a speech. The dollar index closed down 0.4 per cent, its biggest decline since September 16, after the Fed decided to cut interest rates by 0.25 percentage points. "Powell is less bullish on the labour market than he has been on previous forecasts," said Bank of America strategist Alex Cohen, adding that the Fed chairperson's comments on labour and inflation had triggered the dollar's decline. "With the Fed out of step with increasingly hawkish central banks, the weak dollar should take guidance from the bond and interest rate differentials," said macro strategist Edward Harrison. ( Golden Ten)
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