Dollar moves after the decision to fix the US interest rate yesterday  

The dollar index on Thursday settled near 108 levels, as the Fed kept interest rates unchanged, the decision was unanimous to keep the interest rate in the current range of 4.25% -4.50%, and they are waiting for more inflation and jobs data and clarity on the impact of President Donald Trump's policies.

The Fed also said that economic growth and the labor market are in a healthy state, but they did not mention the previous language that we were making progress on inflation.

However, during the press conference following the statement, Fed Chairman Jerome Powell said that progress is still being made, suggesting that there may still be room for future interest rate cuts.

It is too early to say what Trump's policies will do and the central bank's 2% inflation target will remain the same.

Markets are still pricing in two 25 basis point interest rate cuts later this year.

Traders are now focusing on the PCE price index report, which will be released on Friday, as well as the latest ECB policy decision later today.