Dollar Rises Amid Focus on Fed Rate-Cut Outlook

The dollar recovered some lost ground today while the yen pared its safe-haven gains, as investors who were undecided on the scale of a Federal Reserve rate cut expected later this September 2024. The onshore yuan was last 0.3 percent weaker at 7.1117 per dollar, while its offshore counterpart eased 0.27 percent to 7.1142. The yen was 0.44 percent lower at 142.92 per dollar. The euro slipped 0.1 percent to $1.1075, while sterling fell 0.08 percent to $1.3119. Against a basket of currencies, the dollar edged up 0.13 percent to 101.33. In other currencies, the Australian dollar advanced 0.04 percent to $0.6673, after having fallen more than 1 percent and touching a roughly three-week low on Friday. The New Zealand dollar fell 0.13 percent to $0.6167, languishing near Friday's two-week trough. Source: Oman News Agency