Market News
Dollar poised for weekly loss as markets sail into data fog - REUTERS
By Rae Wee and Tom Westbrook
Summary
- Dollar falls as investors fret about weakening U.S. economy
- Markets split on Fed cut in December
- Sterling slips after FT report Starmer and Reeves ditching plans to raise income tax rates
SINGAPORE, Nov 14 (Reuters) - The dollar headed for a weekly fall on Friday as investors trimmed positions while waiting to assess a backlog of U.S. data following the government's reopening.
Traders sold the greenback despite higher yields and expectations for a Federal Reserve rate cut next month receding. The move came alongside a selloff in U.S. equities and bonds, which spilled over into Asian share markets on Friday. "There's a whiff of 'sell America' back in the air," said Ray Attrill, head of FX research at National Australia Bank (NAB).
