The dollar remained relatively weaker against most of its major peers on Monday, as traders wait for the Federal Reserve to acknowledge an end to its hiking cycle while trying to hedge the risk of potential recession.
The dollar index , which measures the currency against six rivals, was down 0.1% in late morning trading at 101.21, a better showing than the one-year low of 100.78 reached last month.raised rates by 25 basis points last week but sounded slightly more cautious than peers on the outlook, dropping guidance about the need for future hikes.
"But then you keep getting these strong U.S. employment data that shows strength and continued wage pressures. So, it seems we keep putting off the inevitable or the inevitable will never come as far as the recession is concerned." "Central bank policy divergence remains in the driver's seat and continues to underpin European currencies at the dollar's expense," said Joe Manimbo, senior market analyst at Convera.
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