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Dollar Declines on September Rate Cut ExpectationsSingapore, 13 Aug (ONA) — The dollar weakened today after a tame reading on US inflation bolstered expectations of a Federal Reserve rate cut next month.
The dollar index, which measures the performance of the US currency against a basket of major currencies, fell to 98.02 points, continuing its decline of 0.5% on Tuesday.
The euro was last up 0.1% to $1.1684, having risen 0.5% in the previous session. Against the yen, the dollar edged 0.07% higher to 147.95.
Elsewhere, sterling gained 0.03% to $1.3505.
The Australian dollar was up 0.03% to $0.6531, while the New Zealand dollar gained 0.05% to $0.5957. — Ends/AH
