Dollar extends losses after Fed officials hint at near-term rate cut
US dollar fell to a nine-day low against a basket of currencies, after Minneapolis Fed President Kashkari hinted that the Fed may soon resume cutting interest rates. San Francisco Fed President Daly also hinted at a possible rate cut soon. The US employment data released last Friday was weaker than expected, boosting expectations of a rate cut by the Fed in September. Data from LSEG shows that the US currency market currently predicts a 91% chance of a rate cut in September.
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