Dollar slides to multi-month lows as Fed rate hike fears fade
NEW YORK — The dollar extended its slide
on Tuesday, touching its lowest level since late February, as
increased risk appetite lured investors away from the safe-haven
U.S. Treasury yields stalled as market participants grew
increasingly confident that the Federal Reserve will hold off on
hiking interest rates for the time being, despite worrisome
near-term inflation spikes.
“We’re seeing this dollar weakness against numerous pairs
and the market is starting to believe the Fed that we’re going
to have low interest rates a lot longer,” said Edward Moya,
senior market analyst at OANDA in New York.
“That’s going to be bearish for the dollar. You’ll