Dollar weakness persists as Fed rate-cut expectations soften

The U.S. dollar weakened against the yen and the euro in Asian trade Thursday as investors continued to unload the greenback on reduced expectations for a Federal Reserve interest-rate increase in coming months.

The New Zealand dollar strengthened after the Reserve Bank of New Zealand left the official cash rate unchanged.

The U.S. dollar USDJPY, -0.44%  hit as low as ¥106.52 earlier in the session before slightly regaining to ¥106.70. This compares with ¥107.00 late Wednesday in New York.

The euro EURUSD, +0.0351%  rose to $1.13995 from $1.1394 late Wednesday. The common currency EURJPY, -0.40%  was at ¥121.64 from ¥122.02.

The WSJ Dollar Index BUXX, -0.09% a measure of the dollar against a basket of major currencies, was down 0.08% at 85.62.

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