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Dollar drops to two-month low
The US dollar dropped to its lowest level since June due to declining expectations of interest rate hikes after weak economic data. This decline led to a 0.3% rise in the euro and importantly, a 0.2% increase in the Japanese yen to 159.04 yen per dollar, despite weak Japanese GDP data. The dollar also fell against the Chinese yuan by 0.11%, reaching its lowest level since 2023, as markets monitor Federal Reserve statements and future interest rate outlooks.
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