Dollar Gains, Paring Worst Slide Since April, as Fed Bets Mount
- Greenback’s Friday gain follows comments by Fed’s Williams
- Gauge of U.S. currency still headed for weekly decline
Citigroup's Elmer: U.S. Dollar to Lose Some Ground
This article is for subscribers only.
The dollar rebounded, paring its longest slump since April, as traders weighed whether a divided Federal Reserve will raise interest rates this year.
The greenback rose against most major counterparts Friday, buoyed by San Francisco Fed President John Williams’s comment that September is “in play.” The advance trimmed the Bloomberg dollar index’s first back-to-back weekly declines in four months. The remarks left the odds of a Fed hike this year at little better than a coin toss, signaling traders remain skeptical that U.S. policy will diverge further in coming months from Japan and Europe, where central banks are adding stimulus.