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FOREX-Dollar mostly weaker on bets on U.S. rate cuts

(Yahoo Finance) The dollar fell against most major currencies on Tuesday, hitting a three-month low against the euro, as expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred selling of the U.S. currency.

At a public event in New York, Fed Chairman Jerome Powell said the central bank was wrestling with whether to cut rates due to possible drag on the economy from escalating trade tensions.

“Powell wants to wait and see because he admits changes have been very rapid,” said Juan Perez, senior currency trader at Tempus, Inc in Washington.

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