(Reuters) The dollar fell on Monday, pressured by growing expectations the U.S. Federal Reserve will either pause or halt its interest rate hike cycle, with the euro and Swiss franc leading gains among its rivals.
On Friday, Powell told the American Economic Association the Fed is not on a preset path of rate hikes and it will be sensitive to the downside risks markets are pricing in.
“This is just the re-pricing of U.S. rate hikes going forward. That has been the story for a couple of weeks,” said John Doyle, director of markets, at Monex Consulting in Washington.
