Dollar falls as Fed signals likely September rate cut

Quick Summary:

NEW YORK : The dollar added to losses on Wednesday after the Federal Reserve held interest rates steady but opened the door to reducing borrowing costs as soon as its next meeting in September.

The Australian dollar fell to a three-month low of $0.6480 and was last down 0.08 per cent at $0.6532, following a softer reading on core inflation.

Japan's rate increase came just months after the BOJ ended eight years of negative interest rates as the bank's chief seeks to dismantle his predecessor's unorthodox policies.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustraliaJapan

Topics: Cent Data Dollar Rate July Market Jobs Wednesday Monthly Bank Japanese

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 21:56:29 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 813 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21876407

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 79 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

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Publisher ID: #27

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