Dollar Sheds Ground On Hopes Fed Will Slow Down Pace Of Policy Tightening
(RTTNews) - The U.S. dollar shed ground against most of its major counterparts on Monday with investors betting on a slower pace of policy tightening by the Federal Reserve following data showing a slower pace of wage growth in December.
The dollar index, which dropped to a low of 102.94 around noon, recovered to 103.20 as the session progressed, but still trailed its previous close by about 0.66%.
Against the Euro, the dollar weakened to 1.0734 from 1.0644.
The dollar eased to 1.2185 against Pound Sterling, giving up 0.76%.
Against the Japanese currency, the dollar edged down marginally, and was last seen fetching 131.88 yen a unit, compared with 132.11 yen on Friday.
The dollar is weak against the Aussie with the AUD/USD pair at 0.6913, down from 0.6876,
The Swiss franc strengthened to 0.9214 against the dollar, while the Loonie firmed to 1.3393 against the dollar.
Asian Shares Rise As Bond Yields Dip
German Factory Orders Rebound In December
Canadian Dollar Drops Against Most Majors
NZ Dollar Slides Against Majors
Australian Dollar Falls Against Majors
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