Dollar retreats as rate hike bets ease

Published by
Reuters UK

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar eased against a basket of currencies on Monday, retreating from the two-decade high hit last week, as traders pared bets on how aggressive the Federal Reserve will be in raising rates at its meeting later this month. A modest rebound in investors’ appetite for riskier assets also dented demand for the safe haven currency. Federal Reserve officials signalled Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant larger increases th…

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