The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labour market boosted the case for quicker...
TOKYO - The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labour market boosted the case for quicker Federal Reserve rate cuts.
Bets for a quarter-point Fed rate cut on Nov. 7 increased to 83.3% from 80.3% a day earlier, with the remaining odds for policy to stay steady, according to the CME Group's FedWatch Tool. A week earlier, there was a 32.1% chance of a half-point reduction and 67.9% probability of a quarter-point cut. While the Fed has signaled a shift in its focus towards full employment over price stability, investors had been looking to the CPI print for confirmation that inflation was coming under control.
The dollar added 0.06% to 148.68 yen, inching back towards Thursday's high of 149.58 yen, a level previously not seen since Aug. 2.The Australian dollar held firm at $0.67395 after rebounding from its lowest since Sept. 16 at $0.6702 on Thursday.
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