Dollar gives up 5-week high ahead of key US data

The US dollar fell against its peers on Thursday, on profit-taking from a 5-week high, ahead of key data on the main sectors in the US during September.

The dollar index fell 0.4% to 93.10 points, after opening at 93.48 points, and hit a high and the highest since August 20 at 93.52 points.

The US dollar index rose 0.25% yesterday, after the Federal Reserve's decisions.

The Federal Reserve voted to maintain rates unchanged, but hinted at starting to reduce bond-buying soon.

Fed Chairman Jerome Powell said if the US economy continues to recover, the Fed may announce the date of reducing bond-buying next November.

The Federal Reserve projected to raise interest rates 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024.

At 13:45 GMT, the flash reading for the US manufacturing PMI will be released, which is expected to reach 60.7 points during August from 61.1 points in July, and the services PMI reading is expected to reach at 55.0 points from 55.1 points.