Dollar doldrums deepen as Fed leans dovish before Jackson Hole

The dollar traded near the lowest in more than a year against the euro and sterling on Thursday as a dovish Federal Reserve and fresh signs of weakness in the U.S. job market backed the case for interest rate cuts.

The dollar sagged below the closely watched 145 yen mark after U.S. Treasury yields slid overnight, ahead of weekly jobless claims data later in the day and a hotly anticipated speech by Fed Chair Jerome Powell at the central bank’s annual Jackson Hole symposium on Friday.

Source: REUTER