USD at new low versus euro

Story link: USD at new low versus euro

The US dollar weakened again on Tuesday, touching yet another new record low versus the euro and hitting a record low in relation to the Swiss franc as well.

There are a number of factors feeding into the dollar’s weakness, including increased expectations that the Federal Reserve will cut interest rates again when it meets in December.

The day’s declines came as investors waited for the release of the minutes of the most recent Fed meeting, to see if there are any clues there as to the direction the Fed might go in December.

In New York trade, the greenback went as low as $1.4814 versus the euro and was trading at $1.4783 to the euro at around 1:30 p.m. local time, while the US currency went as low as SFr1.1070 and traded at SFr1.1083 to the dollar in afternoon trade.

Just a bit earlier in the session, the Israeli sheckel had added 1 percent in relation to the dollar and the Norwegian krone was up 2 percent versus the greenback.

However, the dollar strengthened in relation to the yen, trading at ¥109.7750 to the dollar as investors returned to risky carry trades after the equities markets began to recover from Monday’s losses.

In addition, the yen traded at ¥162.2858 to the euro, at ¥226.5149 to the pound, and at ¥97.1673 to the Australian dollar.