WASHINGTON (dpa-AFX) - After trading weak in the Asian and European sessions, the U.S. dollar slipped a bit deeper in the New York session on Friday, and despite rebounding as the session progressed, struggled to move any significantly above the flat line.
Escalating tensions in the Middle East supported the greenback a bit, but amid a lack of fresh economic data, the currency stayed sluggish for much of the day's session.
Following hawkish comments from Federal Reserve officials, investors have scaled back their expectations for the Federal Reserve to cut interest rates this year.
Now, most market participants believe that the U.S. central bank will wait until September to cut its key interest rate.
The dollar index, which dropped to 105.85, moved past 106.00 a little past noon, but turned subdued again. The index was last seen at 106.13, down marginally from the previous close.
Against the Euro, the dollar weakened to 1.0656, and against Pound Sterling, it firmed to 1.2371, gaining more than 0.5%.
The dollar was flat against the Japanese currency at 154.65 yen, largely staying along the flat line after an early setback.
The dollar was up slightly against the Aussie at 0.6418. The Swiss franc strengthened to 0.9104 a dollar, gaining from 0.9124. The dollar was weak against the Loonie at C$ 1.3752.
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