The U.S. dollar languished near a seven-month low against other major currencies on Tuesday, as investors took heart that the Federal Reserve may be nearing the end of its rate-hike cycle and as
By Rae Wee SINGAPORE (Reuters) - The U.S. dollar languished near a seven-month low against other major currencies on Tuesday, as investors took heart .
The U.S. dollar languished near a seven-month low against other major currencies on Tuesday, as investors took heart that the Federal Reserve may be nearing the end of its rate-hike cycle and as China's reopening drove demand for riskier assets. Markets have grown increasingly doubtful that the Fed will have to take interest rates above 5% to cool inflation, as effects of it aggressive rate increases last year have already been felt in the economy.
The U.S. dollar languished near a seven-month low against other major currencies on Tuesday, as investors took heart that the Federal Reserve may be nearing the end of its rate-hike cycle and as China's reopening drove demand for riskier assets. Markets have grown increasingly doubtful that the Fed will have to take interest rates above 5% to cool inflation, as effects of its aggressive rate increases last year have already been felt.