TOKYO : The dollar languished well below last week's 2-1/2-month highs on Tuesday after unexpectedly soft U.S. services data firmed up expectations for a rate pause at the Federal Reserve's meeting next week but clouded the policy outlook for the months ahead.The Aussie hovered not far from last week's hi
TOKYO : The dollar languished well below last week's 2-1/2-month highs on Tuesday after unexpectedly soft U.S. services data firmed up expectations for a rate pause at the Federal Reserve's meeting next week but clouded the policy outlook for the months ahead.
Global markets have been keenly focused on what the Fed might do at next week's meeting and thereafter, with data and comments from central bank officials causing some volatility in the dollar. The Federal Open Market Committee sets policy on June 14, and markets are now pricing in a 77 per cent chance of the Fed standing still, a sharp jump from a 36 per cent chance a week earlier, according to CME FedWatch tool.
The Australian dollar was flat at $0.6617. It reached $0.66385 on Friday after a large hike to the minimum wage.
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