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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.
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