Dovish Fed pins US dollar at two-week lows | Malay Mail

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LONDON, Aug 30 — The dollar steadied near two-week lows today, held back by the message from the US Federal Reserve chief that there is no hurry to dial back massive stimulus. The allure of the greenback has taken a knock since Friday when Fed Chair Jerome Powell said that tapering could begin...

LONDON, Aug 30 — The dollar steadied near two-week lows today, held back by the message from the US Federal Reserve chief that there is no hurry to dial back massive stimulus.

The euro was trading at US$1.1804 , steady on the day but close to a three-week high touched in Asian trade at US$1.1810.Overall trade in Europe was subdued due to a holiday in Britain. For the month the dollar index has gained about 0.6 per cent. The New Zealand dollar and Norwegian crown have led G10 moves against the dollar, rising 0.5 per cent and 1.4 per cent respectively, with New Zealand and Norway expected to begin rate hikes within weeks.

 

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