Fed Comments Cause Dollar To Dip – 19 November, 2018

Comments by the Federal Reserve about the future of the U.S. economy and the central bank pressured the dollar, causing it to drop to a two-week low. The greenback dipped to 96.120 against a basket of six major currencies, its biggest weekly drop since September. It was last trading down 0.3 percent to 96.208. Richard Clarida, Fed Vice Chair, and Robert Kaplan, Dallas Fed President, both raised concern about a possible global slowdown, and the potential that the rate-hike cycle is coming to an end despite signals of a rate increase in the coming months from 2.25 percent to 2.5 percent. Against the dollar, the euro was up 0.3 percent to $1.1452 despite negotiation concerns between Brussels and Rome. The pound gained 0.2 percent against the dollar to $1.2862.