Dollar Weakens Amid Weak Jobs Data, Trade Tensions -- Market Talk
US indicators continue to show signs that the economy is slowing faster than expected, weakening the dollar. ADP reported 77,000 jobs were added in February, well below expectations. Germany's plan to sharply increase government spending boosted the euro against the U.S. dollar. Also weighing on the dollar are rising bets on multiple interest rate cuts by the Fed this year. However, "ongoing trade tensions could provide some support for the U.S. dollar," Hassan Fawaz of brokerage GivTrade said in a note. The WSJ Dollar Index fell 0.4% to its lowest since December. The dollar fell 1% against the euro and 0.7% against the yen. The dollar was slightly up against the Canadian dollar. (Newsmaker23)
Source: Dow Jones Newswires