Forex News and Reports

The dollar’s woes continued for another session, with the currency tumbling sharply versus the euro to a one-year low, the Aussie at 7-month low and the Swiss franc to an 8-month low. Sentiment over global interest rate differentials remain a primary driver of foreign exchange moves with markets now anticipating a pause in the Fed’s tightening cycle along with the prospect of imminent rate hikes from overseas counterparts. On the premise of narrowing interest rate differentials, the greenback may be subjected to further selling pressure in the coming months.