The dollar held steady early in Asia on Friday, and was set to show a weekly ris...
TOKYO - The dollar held steady early in Asia on Friday, and was set to show a weekly rise as investor focus turned to next week’s Federal Reserve meeting for cues on a possible interest rate cut in light of rising risks to trade and global growth.
The Federal Open Market Committee’s two-day policy meeting is set to begin on Tuesday. With trade tensions rising, U.S. growth slowing and hiring in May declining, markets have priced in at least two rate cuts by the end of 2019. “However, other currencies like euro and sterling are weak and their weakness is helping the strength of the dollar,” he said.
Japan and the United States deepened their understanding over each other’s position on trade and will continue discussions, Japan’s economy minister Toshimitsu Motegi said after meeting with U.S. Trade Representative Robert Lighthizer.
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