Dollar bounces back from one-month lows

The dollar lost some ground earlier this week as investors questioned how aggressively the U.S. Federal Reserve would raise rates in coming months. Tame inflation and concerns over a global economic slowdown mean the pace would be slow, some market participants say.

Stability in the U.S. stock market overnight and gains in Japanese markets on Friday, however, eased some of these concerns, leading to the dollar’s modest recovery.

The dollar USDJPY, +0.30%  rose to ¥122.12 yen from ¥121.55 late Thursday in New York, according to EBS. The euro EURUSD, +0.0091%  fell to $1.0934 from $1.0942.

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