Dollar posts steepest loss in three weeks on U.S. rate-hike doubts

Reuters/Richard Leong/06-23-17

The dollar fell against a basket of major currencies on Friday, recording its biggest one-day fall in three weeks, on persistent doubts whether the Federal Reserve would raise interest rates again this year due to softening inflation data.

The greenback also broadly weakened versus commodity-linked currencies, which got a boost as global benchmark Brent futures recovered from a seven-month low.

…Traders, however, were doubtful about another rate increase later this year as recent U.S. data on balance have fallen short of forecast.

This entry was posted in U.S. Dollar. Bookmark the permalink.

Comments are closed.