U.S. Dollar Slides after Disappointing Economic Data

The dollar fell against a basket of currencies on Wednesday as a batch of disappointing U.S. data on consumers, housing and manufacturing raised concern that the world’s biggest economy is losing momentum in the final months of 2014.

Volume was lighter than average ahead of the U.S. Thanksgiving holiday on Thursday when U.S. financial markets will be closed. Many U.S. traders are expected to stay out of the office on Friday when markets reopen.

The greenback’s decline was limited by expectations that the Federal Reserve might consider lifting short-term U.S. interest rates from near zero in mid-2015 as other major central banks recently loosened monetary policies to help their economies, analysts said.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.