The U.S. dollar has previously rallied on expectations for a tighter U.S. monetary policy, which would diminish the amount of dollars sloshing around the economy and prop up the greenback against foreign currencies. However, with Fed backtracking on its interest rate outlook, the dollar is losing some of its previous momentum.
The greenback “hit a five-month low Wednesday, one day after a news conference where Fed Chair Janet Yellen outlined the path of gradual interest rate hikes,” according to CNBC.
PowerShares DB U.S. Dollar Index Bullish Fund
