TOKYO, May 27 ― The US dollar sank to a one-month low versus major peers today as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow...
TOKYO, May 27 ― The US dollar sank to a one-month low versus major peers today as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year.
Against the euro, the US currency also slipped to the weakest since April 25 at US$1.0765 , and dropped to the lowest against sterling since April 26 at US$1.2607. The dollar index is headed for a 1.5 per cent drop this week, following last week's 1.37 per cent slide. That would be the first two-week decline since the turn of the year.
The dollar weakened 0.3 per cent to ¥126.69, sliding gradually over the past three weeks from a two-decade high of 131.35.
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