Reported 1 day ago
The dollar strengthened slightly on Friday but is heading for a weekly loss, driven by weaker economic data and expectations of further interest rate cuts by the Federal Reserve. Recent job reports showed disappointing job growth, and concerns over the economic outlook intensified with Trump’s Fed nominations suggesting a tilt towards lower interest rates. Traders are now anticipating a high probability of rate cuts in upcoming meetings, even as fears grow regarding Fed independence and U.S. fiscal policy. The dollar index was up 0.21% on the day but meant to close the week down about 0.5%.
Source: YAHOO