The dollar index (DXY), which tracks the greenback’s value against major currencies, jumped 0.7% to 103.25, having dropped 0.9% to 102.51 Wednesday. The futures tied to the S&P 500, Wall Street’s benchmark index, and the tech-heavy Nasdaq index traded at least 0.5% lower, signaling a weak open following Thursday’s surge. Heading into the meeting, the Fed funds futures saw around a 40% chance of a 75 basis point hike in June. Therefore, risk assets picked up a bid after Powell dashed hopes of a bigger move.

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