Dollar falls as rate hike expectations fade
The US dollar declined today, recording its first weekly loss in over a month against the euro and yen, due to decreased expectations of an interest rate hike by the U.S. Federal Reserve and concerns over a wave of selling in the AI-related stock market. The dollar index fell by 0.17 percent to 101.87 points, while the euro gained 0.08 percent to reach $1.1227, heading for a weekly gain of 0.23 percent. Additionally, stocks of AI companies experienced a sharp decline amid credit market tensions and fears that data center operators may be unable to repay their debts, as investors await a reduction in the likelihood of an interest rate hike by the U.S. Federal Reserve in the near future.
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