Fed-driven Dollar Surge Fades Focus Moves To Ecb Meeting


TOKYO – The dollar slipped back from three-week highs against the yen on Thursday, quickly erasing gains made after the Federal Reserve took a slightly more hawkish policy tone in signaling two more rate hikes by year-end.

The greenback’s bounce faded as traders booked profits before the European Central Bank’s meeting later on Thursday, where policymakers are seen discussing the timing of winding down the ECB’s 2.55 trillion euro bond-purchase program.

Fresh concerns about U.S.-China trade relations were also seen weighing on the dollar against the yen, which is often sought in times of political tensions.

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