The dollar finished lower against its main rivals Thursday, snapping three days of gains, after a trio of weak economic reports added to concerns about the timing of the Federal Reserve’s first interest-rate increase since 2006.The euro EURUSD, +0.2790% strengthened to $1.1127, from $1.1098 Wednesday; the pound GBPUSD, +0.0958% rose to $1.5668, from $1.5535; the dollar USDJPY, -0.17% weakened to 120.98 yen, from ¥121.25.
“To be honest, what I think really softened the USD bulls momentum is that the release revealed very little indication at all regarding the timing of a rate increase, which suggests to me that there is a complete lack of direction internally within the [Federal Open Market Committee] over when to raise rates,” Ahmad said in a note to clients.
The ICE U.S. Dollar index DXY, -0.24% a measure of the dollar’s strength against a basket of six rival currencies, was down 0.2% to 95.3010.
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