Dollar
Falls to 2-Month Low
Singapore,
12 Jun (ONA) — The dollar fell today amid growing expectations that the
Federal Reserve (US central bank) will cut interest rates.
Against
a basket of currencies, the dollar fell to its lowest since April 22 at 98.284.
The
dollar’s sharp decline pushed the euro to a seven-week high early in the
session, before the single European currency pared some gains, last trading at
USD 1.1515.
Sterling
rose 0.34 percent to USD 1.3583, while the yen climbed 0.4 percent to 143.95
per dollar.
The
dollar also fell 0.44 percent against the Swiss franc to 0.8169, the New
Zealand dollar rose 0.1 percent to USD 0.6033, the Chinese yuan rose 0.2
percent in onshore trading to USD 7.1810, and the Australian dollar fell 0.12
percent to USD 0.6496.
The
euro maintained strong gains today after surging against most other currencies
in the previous session.
—Ends/AG
