The dollar fell against the euro and yen on Thursday as investors continued to bet the Federal Reserve is closer to cutting interest rates, even after Chairman Jerome Powell said that a move in March was unlikely. Powell said on Wednesday that rates had peaked and would move lower in coming months, with inflation continuing to fall and an expectation of sustained job and economic growth. The dollar initially bounced on Powell's comments that a rate cut in March is not the "base case," but weakened on Thursday ahead of key jobs data on Friday.
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