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Dollar Eases Due to Possible Fed Rate Cuts

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Singapore, The dollar was broadly weaker today after a modest but short-lived boost following better-than-expected US retail sales data, as traders focused on the prospect of Federal Reserve rate cuts as early as September.

The New Zealand dollar gained 0.35% to $0.6071.

Against the greenback, the euro rose 0.06% to $1.0906, while the Australian dollar edged 0.1% higher to $0.6740.

The dollar index ticked marginally lower to 104.19.

Source: Oman News Agency

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