Dollar Falls on Further Rate-Cut Signals
The dollar fell to an 11-day low against a basket of currencies after a Federal Reserve official indicated he would vote for another interest-rate cut later this month.
Fed Gov. Christopher Waller said on Thursday that he supported continued policy easing, echoing comments from Fed Chair Jerome Powell earlier in the week. The Fed’s next policy decision is on October 29.
Also on Thursday, the October Philadelphia Fed business outlook survey fell more than expected. A sharp fall in oil prices is another factor weighing on the dollar given the U.S. is a major energy producer.