Currency Volatility Falls to 1-Month Low Amid Rate Speculation
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Currency volatility fell to a one-month low as traders speculated on the timetable for the Federal Reserve to raise borrowing costs for the first time since 2006.
The dollar on Monday halted a three-day loss after a JPMorgan Chase & Co. measure of price swings slumped to a one-month low as a gauge of labor-market conditions slid. Fed Bank of New York President William C. Dudley said the pace of interest-rate increases is likely to be “shallow” once the central bank starts tightening. The greenback has declined for the past three weeks, paring gains made during a nine-month advance that was the longest since at least 2004.