The
dollar retreated following its longest weekly rally of 2015 as a
selloff in stocks and commodities fueled concern global growth will sag
as the U.S. considers raising interest rates.
The
U.S. currency weakened against most major peers amid renewed questions
about whether the U.S. faces enough inflation pressure to warrant an
increase in borrowing costs. The Federal Reserve meets this week to
consider when to tighten monetary policy for the first time since 2006.
The
Bloomberg Dollar Spot Index, which tracks the currency against 10 major
peers, declined 0.4 percent to 1,204.57 at 5 p.m. in New York, after
rising to 1,212.78 on Friday, the highest since March 19. The gauge
gained for the past five weeks, the longest stretch this year.
The
dollar weakened 1 percent versus the euro to $1.1088. It earlier
reached $1.1129 per euro, its weakest since July 13. The U.S. currency
fell 0.5 percent to 123.25 yen.
Source: Bloomberg
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