The dollar settled on Thursday, April 4, below its recent highs, amid anticipation of US jobs data and traders' relief at statements by US Federal Reserve Chairman Jerome Powell that they saw as reassuring about the possibility of cutting interest rates this year.
The Japanese yen has been locked in a narrow range in the past period due to the possibility of authorities intervening, and has not seen any significant movement from the 151.56 level it has been hovering around for three weeks.
Jerome Powell's remarks
Powell made measured remarks, noting that policymakers would make their decisions based on economic data, and traders focused on his view that recent data had not changed the overall outlook.
Euro, Sterling, and other currencies
The euro rose 0.6% overnight, returning to the middle of its year-long range of $1.0837, and European inflation came in lower than expected on Wednesday, boosting expectations of a European interest rate cut in June.
The pound hit $1.2645, which is also the average range it has been moving in since December.
The Australian dollar broke through its 200-day moving average to $0.6568, while the New Zealand dollar rose 0.7% above $0.60, last trading at $0.6013.
