FOREX-Dollar Drops as Fed Cuts Rates, Traders Unwind Some Trump Trades

FOREX - NEW YORK. The dollar held onto earlier losses on Thursday after Federal Reserve Chair Jerome Powell failed to offer any strong clues that the U.S. central bank was likely to pause rate cuts in the near-term, after a widely expected 25 basis point reduction.

Traders also closed out some profitable bets on a Donald Trump presidency after his election victory on Tuesday.