Dollar Eases Ahead of BoJ Decision Amid Risk Appetite Boost

The US Dollar has eased up ahead of the Bank of Japan's decision on Friday. The DXY Index, which measures the strength of the US Dollar against a basket of other major currencies, hovered just above the 100.00 mark after climbing to a seven-week high earlier in the week.

The sideways action followed Wednesday's interest rate hike by the Federal Reserve, which briefly lifted the Dollar but faded as energy prices came off their highs and President Donald Trump renewed his demand for sharply lower rates.

Chair Kevin Warsh flagged that another hike could still come this year, keeping a floor under the Greenback. Despite this, traders turned to riskier assets, driving up Gold prices above $4,350 per troy ounce and steadying equities.