Dollar steady after Fed hold leaves rate path murky

Business Recorder reported that the US dollar was little changed on Thursday after the Federal Reserve kept borrowing costs steady in a 10-2 vote. The Fed described economic growth more strongly, while Chair Kevin Warsh offered no clear indication of what the central bank will do in December, leaving traders to weigh upcoming inflation and jobs figures.

Markets priced a 78% probability of a December rate increase, while the dollar index stood at 102.26. The euro slipped 0.15% to $1.1134 and the dollar gained 0.14% against the yen to 158.045; attention is now turning to policy decisions expected from the European Central Bank and Bank of Japan. The report also said the Fed plans to use some of its scheduled meetings in 2027 and 2028 for strategy discussions rather than monetary policy decisions.