SYDNEY - The dollar was content to consolidate in Asia on Thursday after recovering from a brief spill overnight when markets were whipsawed by mixed messages on policy from the Federal Reserve.
The dollar had taken an initial knock from a surprisingly sharp retreat in the ISM index of manufacturing to 52.8, which overshadowed a strong ADP report on hiring. The net result was a rebound in a dollar index against a basket of currencies, leaving it last at 97.606 compared to a low of 97.149 on Wednesday.
As the dust settled, the market had scaled back a little of its wagers for Fed rate cuts this year with 2.25 percent implied for December.
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