Dollar Falls Most Since April Amid Pessimism on Economic Growth By John Detrixhe and Rachel Evans Jun 28, 2014 The dollar weakened the most in almost three months as signs U.S. economic growth is flagging damped speculation the Federal Reserve might raise interest rates sooner than anticipated. New Zealand’s dollar climbed to within a half-cent of a record after the nation’s central bank increased interest rates this month for a third time. The pound headed for its longest run of quarterly gains versus the dollar since 2007 as U.K. growth boosted the case for a jump in interest rates. The U.S. economy added 215,000 jobs in June, about the same as in May, a report next week is forecast to show. “Growth for the year is set to be uninspiring,” said Paul Robson, a senior foreign-exchange strategist at Royal Bank of Scotland Group Plc in London. “The dollar’s just staying relatively weak until the data change.” The greenback dropped 0.6 percent to 101.42 yen and touched 101.32, the lowest since May 21. It has fallen 0.3 percent this month, dropped 1.8 percent this quarter and lost 3.7 percent this year against the Japanese currency. The dollar depreciated 0.4 percent to $1.3649 per euro. It has slipped 0.1 percent in June against the 18-nation currency while gaining 0.9 percent this quarter and 0.7 percent in 2014. The yen rose 0.3 percent this week and 0.2 percent this month to 138.41 per euro.
Posted on: Sat, 28 Jun 2014 07:45:07 +0000
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