Dollar falls for a third day on rate pause bets
Monday, 7 January 2019 16:22 WIB | CURRENCIES | Indeks Dolar EuroAussie

The dollar fell for a third consecutive day against its rivals on Monday on growing bets the U.S. central bank will press the pause button on its rate hike cycle in the coming months.

Against a basket of its rivals, the dollar declined a quarter of a percent to 95.92, nearing a 2-1/2 month low hit last week.

The dollar outperformed other currencies in 2018 due to the Fed being the only major central bank to hike rates. If the Fed holds rates in 2019, analysts see slim chances of further greenback appreciation. Money markets expect no more rate hikes from the Fed this year.

The euro and the Australian dollar led gainers with the latter also benefiting from the weekend news of growing policy stimulus in China.

The Australian dollar, whose fortunes are closely correlated with China, gained half a percent to $0.7140.

Reuters

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