The world's reserve currency slipped in value on Thursday in London after the U.S. Federal Reserve opted to slash stimulus on Wednesday, according to Bloomberg.
During the first of two days of policy meetings, the Fed reduced monthly asset purchases by $10 billion, which will fall to $65 billion. That cut is equal to the reduction the body implemented last month as chairman Ben Bernanke's tenure closes. Janet Yellen is set to be installed as the next leader of the central bank of the globe's largest economy.
"A good GDP number could see U.S. yields push higher and then questions will be asked why should investors stay in structurally weak emerging market countries and not prefer the safety and better fundamentals of the U.S.," head of currency strategy Jeremy Stretch with CIBC World Markets told Reuters on Thursday. "That should be supportive of the dollar."
The U.S. dollar climbed about 0.5 percent during early trading in England on Thursday.
Yields on U.S. Treasuries set for maturity in 10 years fell to their lowest level in more than two months on Wednesday, according to Reuters.
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