Entering the European session, the US dollar traded back stable after recording a decline following the results of the FOMC meeting early Thursday morning.
The Federal Reserve (Fed) signaled for more interest rate hikes at its next meeting after raising rates by 75 basis points.
However, the bleak outlook on US economic growth that may be affected by the Fed’s aggressive measures has made the king of the currency shrink.
Investors' focus is now on the policy meeting of the central bank of England (BOE) which will take place at 7pm (Malaysian time) with an expected increase of 25 basis points.
The euro remained weak after the European Central Bank (ECB) announced to use flexibility in reinvesting the redemption of the Pandemic Purchase Program (PEPP) with the aim of maintaining the functioning of the monetary policy delivery mechanism.
The Aussie dollar was little changed with limited gains from mixed employment data readings in May.
Meanwhile, the New Zealand dollar flattened after being disappointed by New Zealand growth data which showed a contraction in the first quarter of this year.
On the other hand, the Canadian dollar slipped to a one-month low amid a fall in world crude oil trade.
