The U.S. dollar held steady against the euro on Thursday following its biggest rise in two weeks a day earlier, when the Federal Reserve warned of rising risks to the economy from higher inflation and unemployment.

Presidential demands for lower interest rates are falling on deaf ears at the Fed as near-term inflation concerns limit the scope for action. Click to read.

Trump said cutting interest rates would be "like jet fuel" for the economy "but he doesn't want to do it." He said Powell is "not in love with me." The Fed this week kept short-term borrowing costs in the 4.