Dollar Falls Against Major Currencies On Rate Cut Bets – 25 June, 2019

The dollar fell against the euro and yen on expectations that the Federal Reserve will cut interest rates in July, while sterling slipped against the dollar over growing concerns of a no deal Brexit due to the Conservative party leadership contest. The dollar dipped to a five month low against the yen settling at 107.145 yen and down 0.14%, after falling to 106.78 during the earlier session, its weakest since the start of the year. The dollar also fell 0.32% against the pound, with the dollar index last standing at 96.131. The euro dropped 0.22% to $1.1373, and the pound fell 0.16% to $1.2729, just below a one month high of $1.2784, but dipped 0.04% against the euro to 89.48 pence.