US$ subdued by easing Fed rate hike expectations

London

THE US dollar was softer on Monday, pegged back by sluggish US data that tempered expectations of a Federal Reserve interest rate hike this year.

The US currency was 0.3 per cent lower at 100.95 yen after losing 0.6 per cent on Friday, when retail sales and producer prices came in weaker than expected. The euro was up 0.15 per cent at US$1.1172, having risen 0.2 per cent on Friday.