Dollar wallows near 3-week low on bets for less aggressive Fed

TOKYO : The dollar hung near a three-week low to major peers on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the U.S. economy at risk of recession.

"Markets look to be betting the Fed has done the lion's share of its task on inflation and will be receptive to slowing activity data," Taylor Nugent, a markets economist at NAB in Sydney, wrote in a client note. The euro, however, edged 0.07 per cent lower to $1.0218, continuing its consolidation near the middle of its range over the past week and a half.

Source: Financial Digest (financialdigest.net)

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