[Briefing.com] In currency trading, the dollar is down 1% against the euro and down 1.8% against the Yen as traders up bets for further rate cuts. Fed funds futures now fully price in a 25 basis point cut on Jan. 30, and indicate a 26% chance of a 50 basis point cut. Last week, futures suggested a 92% chance of a 25 basis point cut, with the remaining bets on no change to the rate.
The weak dollar is spurring buying interest in other commodities, such as gold which is up 2.2% to $856.70 per ounce.
The weak dollar is spurring buying interest in other commodities, such as gold which is up 2.2% to $856.70 per ounce.
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