FOREX-Dollar steady as traders weigh higher-for-longer US, global rates
The dollar was on the back foot on Thursday, though it drew some support from higher U.S. Treasury yields as traders contemplated the possibility of another rate hike by the U.S. Federal Reserve, even if it pauses next week. Surprise rate increases by the Bank of Canada (BoC) and the Reserve Bank of Australia (RBA) this week have caused markets to raise their expectations that global central banks still have further to go in their tightening cycle, while bets of rate cuts later this year have also trimmed.