FOREX-Ahead of G20 summit, dollar bounces on Fed comments [Reuters]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
FOREX-Ahead of G20 summit, dollar bounces on Fed comments - Reuters 3 Min Read * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Saikat Chatterjee LONDON, June 26 (Reuters) - The dollar bounced from a three-month low on Wednesday as traders dialled back expectations of aggressive interest rate cuts from the U.S. Federal Reserve after comments by policymakers. The euro gained against the perceived safe-haven Swiss franc and the dollar also strengthened against the yen after U.S. Treasury Secretary Steven Mnuchin told CNBC that a trade deal between the United States and China was “about 90%” complete. “The yen’s drop today is probably the most reflective of the excessive short bets built up against the dollar in recent days though investors are battening down hatches before the G20 meeting this weekend,” said Neil Mellor, a senior FX strategist at BNY Mellon based in London. The G20 group of 20 major economies hold a summit in Japan this weekend with markets focusing on whether U.
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