Dollar pulls back from 18-month peak
The US dollar slipped from an 18-month peak as Treasury yields fell sharply. Cautious remarks from Federal Reserve officials helped temper October rate hike expectations.
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The dollar fell 0.2% to 102.03 against a basket of currencies on Thursday after hitting an 18-month peak in the previous session. The pullback followed a sharp drop in Treasury yields and cautious remarks from Federal Reserve officials. The retracement eased October rate hike bets despite stronger-than-expected inflation data from the United States.
