The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft.
The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft.
"This suggests a more cautious approach to interest rate cuts, prioritizing a balance between the Fed's employment mandate and keeping an eye on inflation risks."
The risk-sensitive Australian and New Zealand dollars also held near multi-year highs due to China stimulus plans.
AUD/On Thursday, China's leaders pledged to support the struggling economy through "forceful" interest rate cuts and adjustments to fiscal and monetary policies, stoking expectations for more stimulus.
Persons:
Ryan Brandham, Sterling, China's
Organizations:
Federal Reserve, North America, Validus Risk, New, Communist Party, ING
Locations:
U.S, China, New Zealand