The dollar nursed heavy losses in Asia on Thursday after the Federal Reserve stunned markets by abandoning all plans to raise rates this year, a signal its three-year campaign to normalize policy might be at an end.
Investors rushed to price in the prospect of rate cuts later this year, while benchmark Treasury yields dived to their lowest since early 2018.
The Fed's swerve sent the dollar sliding to 110.67 yen, with its 0.6 percent loss overnight the biggest drop since the flash crash of early January.
The euro flew to a seven-week peak and was last trading at $1.1424, a world away from its recent low of $1.1177. That left the dollar down at 95.929 against a basket of currencies, having lost 0.5 percent overnight.
Source : Reuters