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Dollar Trades in Narrow Range, Aussie FallsSingapore, 20 May (ONA) — The US dollar today traded sideways after declining for a week, hemmed in by the Federal Reserve’s caution over the economy and as US lawmakers came closer to passing a bill expected to widen the nation’s fiscal deficit.
The Australian dollar edged lower after the Reserve Bank of Australia’s cut benchmark interest rates by 25 basis points.
The US dollar index has tumbled as much as 10.6% from its January highs, one of the sharpest retreats for a three-month period.
The greenback was little changed at 144.75 yen , after touching 144.66 on Monday that was the weakest since May 8.
The dollar index slid 0.1% after losing 0.6% in the previous session.
The Australian dollar fell 0.5% to $0.6423, trimming a 0.8% gain on Monday.
Sterling was little changed at $1.3353. The euro was flat at $1.1249.— Ends/Khalid
