• Dollar hit as traders pull September US rate hike bets

    Dollar hit as traders pull September US rate hike bets

    The dollar retreated Tuesday as traders rowed back their bets on a September US interest rate hike after a top Federal Reserve official cautioned against moving too early.

    Governor Lael Brainard argued that the bank should adopt a “moderate and gradual” approach to borrowing costs and avoid moves to “tighten policy pre-emptively.”

    Her comments stood in contrast to two Fed officials who signalled late last week that a rate hike could be justified as soon as this month. Those remarks sent global […]