The US dollar eased slightly on Thursday, but remained near a two-year high after the Federal Reserve signaled a slower pace of interest rate cuts in 2025, while sterling strengthened ahead of the Bank of England's latest policy meeting.
US dollar eases from two-year highs
The dollar strengthened on Wednesday after the Federal Reserve cut its outlook for interest rate cuts in the coming year, after delivering on expectations for a rate cut.
The US central bank's policymakers now see only 50 basis points of additional easing in 2025, instead of the 100 basis points indicated in their previous forecast in September.
The economic data slate centers around the release of third-quarter GDP, which is expected to show that annualized growth eased to 2.8% in the quarter, down from 3.0% in the previous quarter.
Source: Investing.com
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