US dollar falls on Fed's possible rate cuts
The US dollar just logged its third straight drop against major currencies this week. What's behind it?
Ongoing US-China trade tensions and fresh buzz that the Federal Reserve might cut interest rates soon.
Markets took the hint after Fed Governors Christopher Waller and Stephen Miran signaled possible cuts, sending the dollar down 0.49% against the Swiss franc.
Layoffs rising in the US
Layoffs are rising in the US, according to the Fed's Beige Book, and a government shutdown predicted to last nearly 40 days isn't helping confidence either.
All this pushed the dollar index down 0.33%.
Meanwhile, the euro and yen got a boost from political shifts in France and Japan's policy moves, while currencies in Australia and New Zealand are moving primarily due to domestic economic data and China-related news.