Dollar edges lower after data as recent rally stalls

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NEW YORK :The dollar slipped for a second straight session, as a recent ascent lost steam, but the greenback was still on track for a fourth straight week of gains after data this week kept interest rate expectations for the Federal Reserve in check.

Schamotta said that while those policies should support the dollar, that could be already priced in and their negative effects such as inflation could dampen consumer sentiment and weaken the dollar more than markets had expected two weeks ago.

Japanese voters were set to head to the polls on Sunday for a general election with opinion surveys showing the ruling Liberal Democratic Party (LDP) could lose its dominance that has lasted for more than a decade, possibly complicating monetary policy plans for the Bank of Japan (BOJ).

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Bank Interest Central Month Inflation Rate Dollar Data Expectations Cent Week

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 23:38:53 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 729 words

Reading Time: 5 minutes read

Sentences: 22 lines

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Copyright Owner: © Channel News Asia

News ID: 23243882

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