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.

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,

The effect of a declining dollar is likely to be subdued, said economist Eswar Prasad, since other nations are seeing weak economic growth.