Dollar Hovers Near Recent Highs, Bonds Steady, Ahead of Expected Fed Stimulus Rollback Announcement

Federal Reserve Board Chairman Jerome Powell testifies at a House Coronavirus Subcommittee hearing on the Federal Reserves response to the Coronavirus Pandemic on Capitol Hill in Washington on June 22, 2021. Graeme Jennings-Pool/Getty Images

The dollar hovered near recent peaks and U.S. Treasuries held steady on the morning of Nov. 3 as investors await an expected Federal Reserve announcement later in the day about tapering the central bank’s massive bond-buying scheme.

The DXY dollar index, which tracks the greenback against a basket of major rivals, traded largely unchanged on the day at 94.055 by 6:12 a.m. New York time, close to its 2021 peak of 94.563 hit last month.