Market News
Dollar steady near five-week low, euro at seven-week high - REUTERS
By Ankur Banerjee and Samuel Indyk
Summary
- Weak US data bolsters rate cut expectations
- Euro the major winner amid dollar decline in 2025
- Yen intervention worries ease but BOJ rate path remains uncertain
LONDON, Dec 4 (Reuters) - The U.S. dollar was steady near a five-week low after lacklustre U.S. data seemingly cemented the case for a Federal Reserve rate cut next week, providing relief to the yen and pushing the euro to an almost seven-week high.
Investors have also been weighing the prospect of White House economic adviser Kevin Hassett taking over as Fed Chair after Jerome Powell’s term ends in May. Hassett is expected to push for more rate cuts.
