The dollar is stabilizing after growing speculation about a further cut in US interest rates
17:59 - 19/07/2019
Information / follow up ..
The US dollar recovered slightly in early trading on Monday, after it tumbled strongly after comments favoring monetary easing from a key policy maker boosted expectations of a major cut in US interest rates this month.
At a central bank conference on Thursday, Federal Reserve Chairman John Williams called for proactive measures to avoid dealing with inflation and very low interest rates.
That pushed the dollar lower before recovering slightly after the Federal Reserve's representative in New York later said Williams' remarks were academic and not about the immediate direction of politics.
The investors considered Williams' comments as well as separate remarks made by Federal Reserve Vice President Richard Clarida as another indicator of the central bank's direction towards monetary easing, paving the way for a significant interest rate cut by the end of the month.
The euro was down 0.2% at $ 1.1261 but remained high within its weekly range as investors awaited the ECB meeting next week.
The dollar index, which tracks the performance of the greenback against a basket of 6 currencies, rose to a two-week low of 96.648 at 96.855.