Dollar Falls to 3-Year Low; U.S. Data Could Limit Further Losses
By
Renae Dyer, Dow Jones Newswires
The dollar fell to another three-year low against a basket of currencies on Monday due to concerns about rate-cut prospects.
However, ING's Francesco Pesole said upcoming U.S. data could limit losses for the U.S. currency as they might prompt investors to trim bets on rate cuts. The nonfarm payrolls report on Thursday could show a gradual slowdown in jobs growth but not enough to trigger heavy bets on a July rate cut, he said.
Inflation could also rise in coming months. "Some short-term support for the dollar should emerge," said Pesole.
Latest News
- Should You Buy ChargePoint While It's Below $2?
- Alibaba Is Restructuring Its E-Commerce Unit. How Should You Play BABA Stock Here?
- Borderlands Mexico: Winner in global tariff war could be Mexico, report says
- This Psychedelic Drug Flopped on Trial Results. Should You Buy the Dip?
- Advisors Increasingly in Scramble Mode Over Fee Pressure
- 1 Thing Every Rivian Investor Needs to Watch Right Now
