Dollar Falls as Investors Confront Fed Reality Amid Global Rout
Why Is the Dollar Plunging Against Other Currencies?
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Dollar bulls are having a reality-check moment as the Federal Reserve keeps traders guessing about when it will raise interest rates.
Currencies of economies with the lowest borrowing costs, including the euro and the yen, rallied against the dollar as bets waned that the Fed will increase its benchmark rate in September. That pushed the greenback to its biggest weekly loss in two months after minutes of the Fed’s July meeting showed policy makers unconvinced that conditions for a rate increase have been met.