Around 9 p.m., the dollar index slid 0.17% to 108.49 points.
The dollar eased slightly on Thursday on the eve of a crucial speech by the Chairman of the Federal Reserve (Fed) and following measures by the Chinese government to boost the economy that kept investors away from safe havens.
Around 7:00 p.m. GMT, the dollar index, which compares the greenback with a basket of major currencies, slipped 0.17% to 108.49 points.
It remained stable once morest the euro which gleaned 0.1% to 0.9968 dollar for one euro.
“The dollar’s rise to new highs has eased, amid caution ahead of a speech on all things interest rate by the Federal Reserve boss,” said Joe Manimbo of Convera Financial Services.
The analyst mentioned the speech of Jerome Powell, President of the Fed, Friday at the conference of central bankers in Jackson Hole (Wyoming), which should indicate that monetary tightening will continue.
“One of the keys will be to see whether or not in Mr. Powell’s speech on Friday, concerns regarding high inflation will prevail over concerns regarding a possible recession,” added the analyst.
In addition, “measures to support the economy in China have boosted the appetite for risk and the euro” which in the session approached parity at 0.9999 dollars, analysts at Sucden said.
“Information from China may slow the dollar today, but that does not change the underlying trend of soaring energy prices which is weighing on importers in Europe and Asia”, recalls Chris Turner, analyst at ING .
