US$ sags on weak data, drop in oil prices
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New York
THE dollar tumbled to a near five-month low against the yen and a 2 ½-week trough versus the euro on Friday, hammered by a combination of poor risk appetite arising from a renewed drop in oil prices and weak US economic data.
The downbeat economic numbers along with the meltdown in oil and stocks could further slow the pace of the Federal Reserve's already gradual tightening policy, a negative scenario for the dollar.
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