Bets on Rate Cuts Puts Pressure On Dollar – 18 July, 2019

Comments made by the U.S. Federal Reserve President John Williams further solidified expectations that an interest rate cut is on the way, causing the dollar to dip. The President urged for preemptive measures to be taken to avoid low interest and inflation rates, causing the dollar to dip to a three week low of 107.21 yen in the previous session before gaining 0.15% back in early trading to 107.42 yen. Against the yen, the dollar dropped 0.4% for the week, while it remained mostly steady against the euro, which slipped 0.15% to $1.12555. After falling to a two week low of 96.648, the dollar index managed to bounce back to 96.824.