Currency Buzz: Dollar Index Steadies Below 106 Mark

1 Dec 2022 , 01:25 PM

The dollar index steadied below 106 mark on Thursday after Federal Reserve Chair Jerome Powell signaled a slower pace of tightening ahead. Powell said on Wednesday that slowing down at this point is a good way to balance the risks but added that controlling inflation will require holding policy at a restrictive level for some time. The dollar index that measures the greenback against a basket of currencies was currently quoting at 105.49 following a sharp drop of more than 1% in the previous session. The index tumbled more than 5% in November, its worst monthly showing since September 2010. US treasury yields also plunged by more than 2% and is lingering around 3.6% at the time of writing. Powered by Commodity Insights