Dollar under pressure on rate cut wagers


Singapore, Dec. 27 (BNA): The dollar remained under pressure on Wednesday, while the euro flirted with a four month peak, as expectations that the Federal Reserve would soon cut interest rates take hold in the market, with thin year-end flows keeping movements limited.

The dollar index was at 101.54, just shy of the five month low of 101.42 it touched last week, Reuters reported.

 

The euro was down 0.07% to $1.1034, having touched a four month high of $1.1045 on Tuesday. The single currency is up nearly 3% in the year and is on course for third straight month of gains, matching the run it had last year.

The Japanese yen weakened 0.17% to 142.64 per dollar.

The Australian dollar and the New Zealand dollar both touched a fresh five month peak but were down a touch in early trading. The Aussie last bought $0.6822, while the kiwi was at $0.6321.

M.I. 




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