Market News
Dollar slips to a two week low as investors eye Fed cut - REUTERS
By Joice Alves and Rae Wee
Summary
- Dollar falls as markets ramp up Fed cut bets
- US inflation data in line with expectations
- Trump weighing lawsuit against Powell over renovations
LONDON/SINGAPORE, Aug 13 (Reuters) - The dollar fell to a two-week low on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency.
The dollar index , measuring the currency against a basket of peers, dipped to 97.76, its lowest since July 28, extending its 0.5% fall on Tuesday.
