New york: Global stock markets steadied on Thursday following the Federal Reserve's decision to cut interest rates, although investors remained cautious as the central bank indicated a measured approach to any future monetary policy easing.

According to Qatar News Agency, the US dollar index fell to its lowest point since February 2022, hitting 96.224 against a basket of major currencies immediately following the rate cut announcement. However, the index rebounded to 97.074 by the end of the day. The euro remained stable at $1.1809 after a brief rise to $1.19185, its highest level since June 2021, in response to the Fed's announcement.

Meanwhile, the British pound was unchanged at $1.3612, although it had surged to $1.3726, its highest since July 2, on Wednesday. The dollar also rose by 0.11% to 147.115 yen in recent trading, recovering from a 0.67% drop to 145.495 yen, the lowest level since July 7, recorded overnight.

New Zealand's dollar experienced a significant drop, weakening by as much as 0.9% to $0.5911, marking its lowest level since September 8. Additionally, the Australian dollar saw a slight decline of 0.23% to $0.6639.