Dollar Declines as Expectations for US Rate Cuts GrowSingapore, 28 Aug (ONA) — The dollar today started on the back foot as traders added to bets for a Federal Reserve interest rate reduction next month.
The dollar index, which measures the greenback against a basket of major currencies, remained steady at 98.135 after experiencing declines for two consecutive days.
The euro added 0.07% to $1.1646, and sterling edged up 0.03% to $1.3504.
The dollar slipped 0.11% to 0.8017 Swiss franc, although it ticked up 0.05% to 147.47 yen.
The dollar edged 0.04% lower to 7.1491 yuan in offshore trading.
The Australian dollar gained 0.09% to $0.6512.— Ends/Khalid
