Dollar Slips as Weak Data Fuels Fed Rate Cut Bets

Dollar Slips as Weak Data Fuels Fed Rate Cut Bets

Singapore, May 16 (QNA) – Theآ dollar fell in tandem with US Treasury yields on Friday after downside surprises in US economic data this week cemented bets of more Federal Reserve rate cuts this year.

The week started out with a mix of market tailwinds headlined by a US-China trade truce which propelled the dollar higher, though the euphoria soon fizzled out and left currencies trading sideways.

The euro was up 0.26% to $1.2130 while sterling steadied at $1.3325.

Against a basket of currencies, the dollar fell 0.2% to 100.57, though was on track for a marginal weekly gain of 0.3% thanks to its sharp 1.3% rise on Monday.

Elsewhere, the dollar was down 0.33% against the yen at 145.30.

The Australian dollar was higher 0.39% to at $0.6430 while the New Zealand dollar rose 0.6% to $0.5910. (QNA)

Source: Healthcare Gains

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