Currencies: Dollar slides further after worst week since early December [MarketWatch]
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Source: MarketWatch
Dollar slides further after worst week since early December The U.S. dollar built on the previous week’s losses on Monday, losing ground against major rivals as traders look ahead to the Federal Reserve’s March meeting on Wednesday. The ICE U.S. Dollar Index DXY, +0.06% a measure of the currency against a basket of six major rivals, was down 0.1% at 96.521 early Monday. Last week, the popular gauge of the greenback recorded its worst week since early December with a 0.7% drop, according to FactSet. The Federal Reserve’s Open Market Committee is expected to be the highlight of the dollar’s week on Wednesday. No change in interest rates is expected, but any forecasts on growth and rates will be closely watched when policy makers complete a two-day meeting. See: Fed seen revealing ‘how and when’ it will stop shedding balance sheet assets Also read: Here are 3 things to watch when the Fed unveils its latest dot plot In the U.K., where traders had been gearing up for yet another B
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