Previous Close | 1.1290 |
Open | 1.1040 |
Volume | 0 |
Day's Range | 1.0850 - 1.1190 |
52 Week Range | 0.3980 - 1.7970 |
Avg. Volume | 0 |
Powell said in a web symposium with Princeton University that a lesson from the financial crisis a decade ago is not to exit a bond-buying program too early, indicating the Fed was not close to stopping its $120 billion-a-month purchases of bonds. The dovish comments reinforced expectations that the Fed will allow inflation to rise above the Fed's target of 2% for longer before raising rates.
Stocks pared gains to end slightly lower Thursday, after the Dow and Nasdaq Composite reached fresh record intraday highs earlier in the session.
Fed Chairman Jerome Powell said Thursday said that the time to raise interest rates "is no time soon."