The dollar was modestly lower on Thursday in a choppy session, after comments from U.S. President Donald Trump called for lower interest rates while providing no clarity on tariffs, and investors awaited a round of policy announcements from global central banks.

The European Union’s Commissioner for the Economy has confirmed retaliatory actions against Trump’s incoming tariffs on goods imported from the EU region. The top economy official said that the EU is ready to defend its economic interests and will respond proportionately.