The dollar took a breather in Asia on Thursday after recovering from a brief spi...
SYDNEY - The dollar took a breather in Asia on Thursday after recovering from a brief spill overnight when markets were whipsawed by mixed messages on policy from the Federal Reserve.
The dollar had taken an initial knock from a surprisingly sharp retreat in the ISM index of manufacturing to 52.8, which overshadowed a strong ADP report on hiring. The net result was a rebound in a dollar index against a basket of currencies to 97.616, having earlier traded as low as 97.149. As the dust settled, the market had scaled back just a little of its wagers for Fed rate cuts this year.
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