Dollar Hangs near Seven-Month Low on Rate Cut Bets

The dollar hung near a seven-month low on Tuesday on wagers the US central bank will start cutting interest rates from next month. The dollar index, which measures the US currency against six rivals, touched its lowest since Jan. 2 of 101.82 on Tuesday. The Japanese yen was a shade stronger at 146.50 per dollar. The euro last fetched $1.1080 on Tuesday having touched $1.108775, its highest since Dec. 28 in early trading. The single currency is up 2.4% this month, on course for its strongest monthly performance since November. The pound was steady at $1.2985 in early trading. The Australian dollar was 0.12% lower at $0.6725, while the New Zealand dollar was little changed at $0.61135. Source: Qatar News Agency