Dollar Weakens on Declining Fed Rate Hike Expectations

August 17, 2016 6:01 PM

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Dollar Weakens on Declining Fed Rate Hike Expectations

The dollar fell against a basket of currencies on Monday, undermined by recent soft U.S. economic data that tempered expectations of a Federal Reserve interest rate hike this year.

The dollar, which has fallen in four of the last five trading sessions, also slipped against the yen, a trend that has been in place for much of this year, with investors generally underwhelmed by Japan's recent stimulus measures.

Also read: India cenbank says to withdraw temporary cash reserve ratio hike

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