The US dollar rate is slightly declining against the euro, the yen, and the pound after a sharp drop the day before. Market participants’ expectations that the Fed could slow down the rise in the key rate amid falling inflation and problems in the U.S. economy put pressure on the dollar.

Thus, last week, head of the Federal Reserve Bank (FRB) of San Francisco Mary Daly, said that the U.S. Central Bank should start discussing the issue of slowing down the rate of key interest rate hikes. Doing so is important because the Federal Reserve (Fed) doesn’t want to tighten policy too much, just as it doesn’t want the rate hike to prove insufficient to curb inflation, she said.

As it became known on Wednesday, the Bank of Japan increased its purchases of government bonds to keep their yields within the target range. The central bank offered to buy 10-year and 25-year bonds worth 350 billion yen, 100 billion yen more than previously planned.

The euro rose 0.12% to $0.9978 against the American dollar rate today, up from $0.9966 at the close of Tuesday’s session. The dollar-yen exchange rate declined 0.07% to 147.83 yen from 147.93 yen the day before. The pound rose 0.06% to $1.1479 from $1.1472 at the close of the previous session. The ICE index is virtually unchanged.

Earlier, we reported that Chinese stocks fell 7.3% after Xi Jinping’s reelection.