Greenback suffers worst week in a month
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New York
THE dollar fell the most in a month as reports broadened evidence of a soft patch for the US economy and clouded the outlook for the Federal Reserve to raise interest rates.
The US currency slid as traders reassessed the extent of American out-performance versus the world on economic growth. The greenback declined versus the 19-nation currency as European Central Bank president Mario Draghi endured a confetti-throwing protester to predict the region's recovery will "broaden and strengthen". "The growth side of things is not yet materialising this year to the Fed's liking," said David Donabedian, chief investment officer in Atlanta at Atlantic Trust Private Wealth Management, which oversees US$26.2 billion. "The consensus has moved from they're going to raise in June to they're going to raise in September to some people saying it may be even later than that. And that's a reason right there to sell the dollar."
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