Dollar holds near highs, euro dips
Dollar holds near highs, euro dips
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NewsTranscript
00:00The dollar remained strong following China's disappointing stimulus measures,
00:04while the euro fell for the 11th time in 12 sessions.
00:08Traders anticipate a 25-basis-point interest rate cut from the European Central Bank, or ECB,
00:16at its October 17 meeting due to weakening eurozone conditions,
00:20prompting concerns about communications from ECB President Christine Lagarde.
00:26Trading was subdued as Japanese markets were closed for Sports Day and U.S. bond markets for
00:32Columbus Day. The British pound approached a one-month low at $1.31. Recent U.S. data showed
00:40slight consumer inflation and rising jobless claims, influencing expectations for Fed rate cuts.
00:48Key U.S. retail sales and jobless claims data are awaited, along with ECB's policy review.