Reported 6 months ago
The U.S. dollar is at its lowest level since April against the euro and sterling due to signs of a weakening U.S. economy, raising expectations of earlier Federal Reserve interest rate cuts. Data showing a slowdown in manufacturing activity and a decline in construction spending has increased the likelihood of a rate cut in September to around 59.1%, compared to 55% on Friday. Analysts are monitoring upcoming job data for economic strain indications, with a potential rate increase fully priced by the Fed's November meeting.
Source: YAHOO