U.S. dollar skids as traders weigh Fed pivot
Oct 27, 2022
New York (US), October 27: The U.S. dollar slumped in late trading on Wednesday as recent soft U.S. economic data fueled speculations that the Federal Reserve might be less aggressive in rate hikes.
The dollar index, which measures the greenback against six major peers, fell 1.13 percent to 109.7010.
In late New York trading, the euro rose to 1.0084 U.S. dollars from 0.9961 dollars in the previous session, and the British pound was up to 1.1626 U.S. dollars from 1.1472 dollars in the previous session.
The U.S. dollar bought 146.30 Japanese yen, lower than 147.98 Japanese yen of the previous session. The U.S. dollar decreased to 0.9865 Swiss francs from 0.9958 Swiss francs, and it decreased to 1.3570 Canadian dollars from 1.3621 Canadian dollars. The U.S. dollar was down to 10.8675 Swedish Kronor from 10.9751 Swedish Kronor.
Source: Xinhua
