The U.S. dollar fell against a basket of major currencies on Monday on persisting concerns about global economic growth and worries that the Federal Reserve may delay its first interest rate hike.
Concerns over the health of overseas economies continued in the wake of last week’s weak German economic data and the International Monetary Fund’s cut to its global growth forecast.
Meanwhile, Fed officials said on Saturday that a slowdown in the global economy could hamper a tightening of U.S. monetary policy. Fed Vice Chairman Stanley Fischer said at a Saturday event sponsored by the IMF that the global outlook might hamper the effort to normalize U.S. monetary policy after years of extraordinary stimulus.
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