Posted 12/27/2023, 1:38:00 AM
Dollar Slides While Euro and Antipodeans Rally on Cooling US Inflation and Fed Rate Cut Bets
- Dollar remains under pressure as markets expect Fed to cut rates in 2023 due to cooling inflation
- Thin holiday trading volumes keeping currency movements limited
- Euro trades near 4-month peak against dollar
- Australian and New Zealand dollars touch 5-month highs
- Yen drops over 8% versus dollar in 2022, but has strengthened recently as markets bet Bank of Japan will exit ultra-loose policy