Dollar Falls as Gold Rises
The dollar declined against the euro after the release of weak economic data in the United States, leading to a 0.44% drop to its lowest level since June. Meanwhile, gold rose by 1.2%, supported by diminishing expectations of an interest rate hike in the US. The precious metal continued to benefit from the weak dollar and the tensions in the Middle East. Market expectations for a rate increase have significantly decreased, amid growing concerns about an economic slowdown in the US and the Federal Reserve adopting more accommodative policies.
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