The dollar held near a two-week high against its major rivals on Monday ahead of...
TOKYO - The dollar held near a two-week high against its major rivals on Monday ahead of a crucial U.S. Federal Reserve meeting that many expect will lay the groundwork for an interest rate cut to bolster the world’s largest economy.
The dollar index versus a basket of six major currencies was little changed at 97.479 after rising to 97.583 on Friday, its highest since June 3. An escalating trade war between the United States and China has rippled through global supply chains in a hit to business investment, factory output and world growth.Fears a protracted Sino-U.S. standoff could tip the global economy into recession have prompted rate cuts in many Asian countries, including India, Philippines, Malaysia, New Zealand and Australia.
“The Fed might cut rates sooner or later but so might its antipodean counterparts as well as the , and such views put the dollar at an advantage.”
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