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Dollar Under Pressure After Fed Fuels Bets On Large Rate Cut


Friday, 19 July 2019 08:43 WIB

DOLLAR


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The dollar was on the defensive on Friday after Federal Reserve officials bolstered expectations of an aggressive rate cut this month to address weakening price pressures.

At a central banking conference on Thursday, New York Fed President John Williams argued for pre-emptive measures to avoid having to deal with too low inflation and interest rates.

Although a New York Fed representative subsequently said Williams' comments were academic and not about immediate policy direction, investors still took his remarks along with separate comments from Fed Vice Chair Richard Clarida as a dovish signal from the central bank.

The dollar stood at 107.42 yen , up 0.15% in early trade, having hit a three-week low of 107.21 on Thursday while the euro also slipped 0.15% to $1.12555 from $1.1282. On the week, the dollar is down 0.4% versus the yen and almost flat on the euro.

The dollar index, which hit a two-week low of 96.648, bounced to 96.824.

Source : Reuters


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