US$ dips on lowered expectations of rate hike

Published Mon, Aug 14, 2017 · 09:50 PM

London

THE US dollar edged lower against a trade-weighted basket of currencies on Monday after posting its biggest weekly drop in three weeks as expectations of US rate increases dwindled further after weak inflation data.

With Japanese second-quarter growth expanding one per cent quarter on quarter, fuelled by rising consumption and capital expenditure, investors stepped in to buy risky assets after tensions over North Korea.