Dollar dips on increased expectations of a 2019 Fed rate cut Jun 03 2019 [Reuters]
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Source: Reuters
Dollar dips on increased expectations of a 2019 Fed rate cut - Reuters 3 Min Read NEW YORK (Reuters) - The U.S. dollar fell on Monday after St. Louis Federal Reserve President James Bullard said an interest rate cut “may be warranted soon,” given the rising economic risk posed by global trade tensions as well as weak U.S. inflation. Bullard said that while the Fed cannot respond to every change in the rapidly evolving trade feud, recent events like the unexpected announcement of new tariffs on Mexican imports have created “an environment of elevated uncertainty... that could feed back to U.S. macroeconomic performance” as the global economy slows. Also on Monday, a national survey showed U.S. manufacturing activity slowed in May to its weakest pace in more than two years as factory managers raised concerns about a trade war between the United States and China. The mounting trade tension has prompted investors to move out of riskier assets like U.S. stocks and into safe-havens like the
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