The greenback stays on the back foot to start the day
The dollar is joined by the loonie at the bottom of the pile as the latter is weaker following the BOC saying that the resilience of the Canadian economy will be "increasingly tested" down the road with questions raised about the outlook as well.
Other major currencies are holding decent gains against the greenback since overnight trading, as traders continue to digest the FOMC meeting decision and Powell's press conference.
I would argue that the dollar should not see protracted weakness in the aftermath but then again, the threshold for another rate cut may not be as high as one would think.
Also, near-term technical levels among dollar pairs are working against the currency right now so there is that to consider too ahead of non-farm payrolls tomorrow.
Looking ahead, we will have a busier schedule in the European morning but I reckon markets will still try to work out the post-FOMC feels more than anything else in trading today.
