The dollar was on the back foot on Monday after sustaining its biggest weekly dr...
LONDON - The dollar was on the back foot on Monday after sustaining its biggest weekly drop in four months last week as traders remained cautious about the prospects of trade talks between the United States and China at this week’s G20 summit.
The greenback has been on the receiving end of a broad market selloff in major currencies as global central banks led by the U.S. Federal Reserve signaled a dovish outlook on monetary policy due to growing signs of a weak global economy. But the selloff has raised concerns that markets have turned excessively bearish against the dollar, especially since the Fed has the most room to cut interest rates relative to its peers, such as the European Central Bank, where rates are already in negative territory.
Investors focused on whether Washington and Beijing can resolve their trade dispute at a summit in Japan this week.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
G20 nerves hit European stocks, dollar; oil gainsEuropean stocks stumbled and the dollar dropped to three-month lows on Monday as...
Read more »
Euro hits three-month high as Fed easing prospects weigh on dollarThe euro rose to a three-month high against the dollar on Monday, as bearish bet...
Read more »
Euro reaches three-month high as dollar sags on Fed easing prospectsThe euro advanced to a three-month high against the dollar on Monday, as bearish...
Read more »
China's President Xi to attend G20 summit from June 27-29: XinhuaChina's President Xi Jinping will attend the G20 summit in Japan next week,...
Read more »
China says will not allow Hong Kong issue to be discussed at G20 summitChina's Assistant Minister of Foreign Affairs Zhang Jun said on Monday that...
Read more »
Daimler warning pressures European shares, eyes on G20A profit warning from Mercedes-Benz maker Daimler dampened European stock market...
Read more »