USD helped by lowered expectation for rate cuts
by Elaine Frei
The US dollar was stronger Friday as analysts began to believe it is less likely that the Federal Reserve will send interest rates lower again in January after recent economic data looked like it might not support another rate cut right away.
In early afternoon trade the greenback was trading at $1.4449 to the euro, for a gain of 1.5 percent on the euro this week.
Meanwhile, the dollar traded at $2.0220 to the pound, while it took ¥113.3950 to buy a dollar.
The yen was helped by a continued trend away from risk.
The Japanese currency traded at ¥163.8500 to the euro and at ¥229.2790 to the pound while it was at ¥97.8371 to the Australian dollar and at ¥98.3776 to the Swiss franc.
Story link: USD helped by lowered expectation for rate cuts
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