Federal Reserve left the door open to more monetary easing and dampened expectations for a quick economic recovery from the coronavirus pandemic. The greenback was also weighed down as signs the pandemic is receding in other forexc dollar and reduced safe-haven demand for holding funds in dollars.
Additionally boosting appetite for riskier currencies were positive trial results of an experimental COVID treatment.
The euro held steady before a European Central Bank meeting later on Thursday where policymakers are likely to expand debt purchases to include junk bonds and take other steps to ease conditions in credit markets.
More forexc dollar are taking steps to re-open their economies as coronavirus infections slow, giving some cause for optimism.
However, it will likely take several months for U.
The greenback was little changed at 0. After a two-day policy meeting ending Wednesday, the Fed kept interest rates near zero and promised to expand emergency programmes as needed to help the battered economy.
Fed Chairman Jerome Powell offered no sanguine words about how fast the country might return - if ever - to the near-record low unemployment and solid growth of just a few weeks ago.
Sentiment for the dollar also took a hit after data on Wednesday showed U.
Economists say the second quarter could be forexc dollar worse. The United States and other major economies forced businesses to close and kept people at home to forexc dollar the spread of the novel coronavirus, which slammed the forexc dollar on global growth. Against the pound, the common currency traded The ECB is already printing money at a record rate to buy up ballooning state debt. However, European Union officials have struggled to forexc dollar the details of a joint recovery fund, which shifts the burden to the ECB, analysts say.