The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets.

The dollar fell to its lowest point this year against the yen, while gold reached a record high, driven by speculation of a significant Federal Reserve interest rate cut next week. This follows influential commentary and data signaling economic resilience despite market fluctuations.

This has been corrected to reflect that the Fed moved to cut rates twice by 50 basis points and 100 basis points in March 2020. The U.S. dollar has been sliding in the run-up to a widely expected interest-rate cut from the Federal Reserve on Wednesday and,