Economics
Dollar Falls to Lowest Since June as Fed Rate Sentiment Recedes
- Post-payrolls gains disappear as traders await more data
- Markets looks to Yellen’s speech at Jackson Hole conference
BNP Paribas Ups Fed Rate Hike Outlook
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The dollar fell to the lowest level since June as speculation fades that the Federal Reserve will raise interest rates this year.
The greenback weakened against all of its major peers, erasing the rally sparked by a stronger-than-predicted U.S. payrolls report released Aug. 5. Traders’ bets that central-bank policy makers will raise rates this year have fallen to 41 percent, down from the 47 percent at the end of last week.