The U.S. dollar was a tad higher on Thursday as receding concerns over the banking sector bolstered risk sentiment and investors switched their attention to the Federal Reserve's battle against inflation.
The dollar index , which measures the currency against six major peers, rose 0.019% to 102.65, after gaining 0.19% overnight. The index was on course, however, to clock a 2% decline for March due to market tumult over problems in the banking industry.
Banking stocks were battered in the past few weeks in the wake of the sudden collapse of two U.S. lenders and the rescue of Credit Suisse Markets are pricing in a 60% chance of the Fed standing pat on interest rates, according to the CME FedWatch tool, with investors expecting rate cuts towards the end of the year.
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