Dollar Slides as Traders Bet on Fed Rate Cuts This Year After Economic Slowdown
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Dollar slides to 2-month low as traders believe U.S. rates have peaked and Fed may start cutting soon.
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Yuan hits 3-month high against weaker dollar; Australia dollar also at 3-month peak.
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Markets have priced out further Fed rate hikes after weaker economic data.
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Focus turns to how soon Fed may start cutting rates, with some chance seen as early as March 2023.
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Weaker dollar brings some reprieve for Japanese yen and other currencies like the Aussie dollar.