The U.S. dollar was on track for its biggest daily decline against a basket of major currencies in nearly two weeks on Thursday after comments from Federal Reserve officials and weak U.S. data pushed out expectations for the first Fed rate hike.
Atlanta Federal Reserve Bank President Dennis Lockhart, whose comments were closely-watched since he is a voting member of the Fed’s rate-setting committee this year, said the Fed’s interest rate plans were being complicated by factors including a “murky” run of first-quarter data.
Comments from Cleveland Fed President Loretta Mester and Boston Fed President Eric Rosengren also struck dovish notes, with Rosengren saying the Fed should wait longer before hiking.
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