The U.S. dollar, which exhibited weakness ahead of the Federal Reserve's monetary policy statement, rebounded after the Fed held the interest rate unchanged and explained its outlook for the economy.
The dollar index dropped to a low of 97.15 early on in the session, but rallied to 97.73 after the Federal Reserve Chairman Jerome Powell continued to project a patient approach to setting its benchmark interest rate and gave no indication that a cut was any more likely than an increase at this moment.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.