India, March 21 -- The U.S. dollar moved up against its most major counterparts in the New York session on Friday amid hopes of a rate cut by the Federal Reserve later this year.
The Fed maintained its forecast for two reductions this year, but expects softer growth and firmer inflation.
Traders expect the Fed to keep its interest rates on hold until later this year.
U.S. stocks fell amid ongoing concerns about the economic outlook along with rising geopolitical tensions and uncertainty about the impact of President Donald Trump's tariffs.
A steep drop by shares of FedEx (FDX) is also weighing on the markets.
The greenback climbed to a 2-week high of 1.0795 against the euro and a 10-day high of 1.2887 against the pound. The greenback m...