USD pauses as investors consider rate rise delay
by Brian Turner
At midday in New York, the dollar was down in relation to the euro, but sterling was down in relation to the dollar.
In the US, new data showed that retail sales were up and inflation steady, leading some analysts to think that the Federal Reserve might pause in its moves in monetary tightening.
Others, meanwhile, see no change in the Fed’s current monetary policy.
This, coupled with increasing calls in the UK for interest rate cuts, kept the dollar steady but barely and caused sterling to fall slightly.
The latest call for cuts in the UK came from the British Chamber of Commerce, which released a survey showing a weakening of the economy there.
By midday in New York, the dollar was slightly lower in relation to the euro at $1.2095, while sterling fell to $1.7591 against the dollar.
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