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Dollar tumbles, hurt by benign wage inflation, tariff action
The dollar fell on Monday, pressured by data showing persistently low wages that will likely constrain the U.S. Federal Reserve from raising interest rates more than three times this year.Friday’s non-farm payrolls report showed U.S. job gains for February were much higher than expected, but wage inflation, a closely watched indicator by the Fed, remained subdued. “Mixed messages on America’s labour market last week largely offset and, importantly, failed to move the dial in favour of faster rate hikes from the Fed,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. ... (full story)