The dollar dropped for
a second day after Federal Reserve policy makers shied away from
reaffirming investors’ expectation of an interest-rate increase next
month.
Currency investors,
who’ve been accumulating bets on a stronger dollar this month, were
disappointed when New York Fed President William C. Dudley said policy
should be tightened only gradually after interest rates are increased
for the first time since 2006. Commodities currencies weakened,
including the Canadian dollar and Norway’s krone, on speculation
increasing energy supplies will extend a global crude-oil rout.
The Bloomberg Dollar
Spot Index, which tracks the greenback versus 10 major counterparts,
fell 0.2 percent to 1,226.80 as of 3:03 p.m. New York time. The gauge
has rallied 1.4 percent this month and reached the strongest level
Tuesday in more than a decade.
Source: Bloomberg
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