By the early U.S. session, The dollar jumped and currencies of commodity exporters tumbled on concern global growth is stalling after the Federal Reserve said yesterday it saw “significant downside risks” to the U.S. economy. The Dollar Index climbed to a seven-month high as the Fed’s statement stoked concern the global economy is headed for a recession and currency volatility surged to a 16-month high. The euro reached a fresh decade-low against the yen after region’s services and manufacturing contracted
During the U.S. session, the dollar has reduced its rapid growth and is currently the major currencies traded mixed against the dollar. The market is characterized by high volatility.