TOKYO : The U.S. dollar wallowed near a one-week low versus major peers on Friday, on course for its worst week since mid-January, amid strengthening views that the Federal Reserve will forgo an interest rate hike this month.The U.S. Senate's passage of a bill to suspend the debt ceiling and avert a disas
TOKYO : The U.S. dollar wallowed near a one-week low versus major peers on Friday, on course for its worst week since mid-January, amid strengthening views that the Federal Reserve will forgo an interest rate hike this month.
The U.S. dollar index, which measures the greenback against a basket of six rivals, weakened 0.06 per cent to 103.48 in Asian trading, extending a 0.62 per cent slide from Thursday, its worst day in almost a month.Philadelphia Fed President Patrick Harker said on Thursday that"it's time to at least hit the stop button for one meeting and see how it goes," referring to the June 13-14 meeting.
"The key is non-farm payrolls tonight, which could determine if there's going to be a hike in coming months, whether that's in June or July," said Shinichiro Kadota, senior currency strategist at Barclay in Tokyo. The dollar ticked down 0.13 per cent to 138.65 yen, after dropping to as low as 138.44 on Thursday for the first time since May 24.
Meanwhile, the Senate passed a bill to lift the government's $31.4 trillion debt ceiling late on Thursday, getting it ready for President Joe Biden to sign well ahead of a Monday deadline.
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