US$ stays weak but outlook still upbeat

New York

THE US dollar fell to a five-week low on Friday, remaining under pressure for a third straight session after the Federal Reserve quashed hopes for a further currency bull run by keeping a gradual rate-hiking pace.

"At the moment, the dollar remains in correction mode, which we had fully expected," said Fawad Razaqzada, market analyst, Forex.com in London. "But we remain fundamentally bullish on the greenback because the Fed remains the only major central bank which is actively tightening its policy."