The dollar found its feet on Thursday while the Chinese yuan dipped to a two-month low after more evidence of weakness in China's post-COVID recovery clouded the outlook for the global economy.
The U.S. currency had started the day on the back foot, sliding against the yen under the weight of lower U.S. Treasury yields as slowingBut it pared those declines and erased losses against the Aussie dollar and euro following the release of
"Yesterday's CPI was a bit of a relief, and we do expect that the Fed is now finished hiking," said Shinichiro Kadota, senior FX strategist at Barclays in Tokyo. The dollar index - which measures the greenback against a basket of six major peers, including the yen, euro and sterling - edged 0.05% higher to 101.46.
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