TOKYO- The dollar held firm on Thursday following its sharpest rally since early June as traders looked ahead to speeches from key Federal Reserve policymakers later in the day for clues on the pace of interest rate cuts.

The US  currency rebounded strongly overnight from a more than one-year low to the euro and 2 1/2-year trough versus sterling.

While there was no obvious catalyst for the rebound, investors appeared to take a more nuanced view on just how aggressive future US  rate reductions would be, with Fed speakers this week not presenting a unified view on the path forward.

On Wednesday, Fed Governor Adriana Kugler said she “strongly supported” the decision to cut rates by half a point earlier this month to kick off the easing cycle, but did not talk about her preferences for the pace of reductions from here.

Earlier this week, Chicago Fed President Austan Goolsbee said policymakers “can’t be behind the curve” if the economy is to have a soft landing. Atlanta Fed President Raphael Bostic said the central bank need not go on a “mad dash” to lower rates.

“I’m not getting the feeling at this point that it’s particularly unanimous,” said Kenneth Crompton, chief rates strategist at National Australia Bank.

“It sort of feels like they’ve done their catch up … and from here it’s probably more 25s than 50s.”

Later on Thursday, Fed Chair Jerome Powell gives pre-recorded remarks at a conference in New York, where New York Fed President John Williams will also speak. Boston Fed President Susan Collins and Fed Governors Michelle Bowman and Lisa Cook take to the podium at various other venues as well.