Business & Finance
Dollar Falls to Lowest Level Since May as Rate Hike in Doubt
Key Points
Dollar Falls to Lowest Level Since May as Rate Hike in Doubt The dollar fell Friday after soft US labor data reduced expectations that the Federal Reserve will raise interest rates in the near term. The Bloomberg Dollar Spot Index fell as much as 0.5% to the lowest level since May. The greenback declined against all of its major peers, with the yen surging against the weaker dollar.
Dollar Falls to Lowest Level Since May as Rate Hike in Doubt
The dollar fell Friday after soft US labor data reduced expectations that the Federal Reserve will raise interest rates in the near term.
The Bloomberg Dollar Spot Index fell as much as 0.5% to the lowest level since May. The greenback declined against all of its major peers, with the yen surging against the weaker dollar. In July, US employers unexpectedly cut jobs and hiring in the prior two months was revised lower.