(Bloomberg) -- The dollar tumbled to near its weakest level since January as traders increasingly leaned toward a half percentage point rate cut by the...
-- The dollar tumbled to near its weakest level since January as traders increasingly leaned toward a half percentage point rate cut by the Federal Reserve this week.The Hague Is World’s First City to Ban Oil and Air Travel Ads
After weeks of debate over whether the Fed will kick off its policy easing with a cut of 25 or 50 basis points, traders are favoring the latter option. Futures linked to the Fed’s decision this week are pricing around a 58% chance of a half point cut, compared with a coin toss late last Friday. The greenback has weakened against most major currencies over the past month, with once beaten-up peers like the yen and Swiss franc among the biggest winners against the dollar. Japan’s currency extended gains again on Monday, advancing past the closely watched 140 per dollar level as investors bet on narrowing interest rate differentials between the two nations.
Still the market is overwhelmingly in the camp of a weaker US currency. The euro, yen, Canadian and Australian dollars are all forecast to strengthen against the greenback by this time next year, Bloomberg surveys of analysts show.
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