The dollar was under pressure on Thursday after the Federal Reserve's latest economic projections indicated that the interest-rate hike cycle has come to an end and lower borrowing costs are coming in 2024. Both the euro and Japanese yen jumped in response, with the European Central Bank (ECB) preparing to announce its policy decision later on Thursday and the Bank of Japan coming up next week. Fed Chair Jerome Powell said at Wednesday's Federal Open Market Committee (FOMC) meeting that the historic tightening of monetary policy is likely over, with a discussion of cuts in borrowing costs coming "into ... (full story)