TOKYO: The dollar started Thursday on the back foot as traders added to bets for a Federal Reserve interest rate reduction next month after New York Fed chief John Williams signalled a cut was possible.
The US currency has also come under renewed pressure from President Donald Trump’s ramped-up campaign to exert more influence over monetary policy decisions, as he attempts to fire Fed Governor Lisa Cook and replace her with a loyalist.
The dollar weakened against the euro even as France’s prime minister unexpectedly called a confidence vote for next month, which is likely to result in the fall of his minority government.