Taiwanese President Tsai Ing-wen is expected to stop over in the U.S. on Friday on her way back from visiting diplomatic allies in the Caribbean, a move that's sure to make...China Politicsread more
Regional stability, oil prices and potential for war will all depend on what Iran does with its nuclear program in the event of the deal's termination.World Politicsread more
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used.Technologyread more
Stocks in major Asia Pacific markets made strong gains on Friday, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease...Asia Marketsread more
Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
The base version of the sports car will punch out 495 horsepower, 40 more than the seventh-generation car and enough to launch it from 0 to 60 in "less than three seconds"...Autosread more
Animation fans and Kyoto residents gathered at the site of Japan's worst mass killing in 18 years on Friday, offering flowers and prayers for the 33 people who died in an...Asia Newsread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
The dollar dropped to two-week lows on Monday, pressured by cautious comments about the U.S. economy from Federal Reserve officials suggesting the central bank may be nearing the end of its tightening cycle.
Against a basket of six major currencies, the greenback fell to 96.120, its lowest since Nov. 8, after falling nearly half a percent last week, its biggest weekly drop since late September.
The index was last down 0.29 percent at 96.18. Fed Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan on Friday raised concerns over a potential global slowdown that has markets betting heavily that the rate-hike cycle is on its last legs, even as they still signaled further interest rate increases ahead.
Fed Chairman Jerome Powell on Wednesday also cited slowing global growth as a headwind to the U.S. economy. Capital Economics sees the federal funds rate peaking at 2.75-3.0 percent in mid-2019.
"Although investors now think the rate will peak closer to the bottom of this range than the top...they are still a long way from discounting the substantial rate cuts that we anticipate in 2020 as the Fed responds to a sharp economic slowdown," said John Higgins, chief market economist, at Capital Economics in London.
The Fed has raised interest rates three times this year and is expected to raise its target again in December, to a range of 2.25 percent to 2.5 percent.
The dollar has been the surprise winner of 2018, having risen nearly 10 percent from April lows thanks to a combination of interest rate hikes and strong economic data. But the growing view that U.S. economic growth may have peaked has begun to erode the gains.
In a 2019 outlook note, strategists at Goldman Sachs said the greenback may decline as much as 6 percent against most of its developed market rivals, as the U.S. economy starts to slow with the impact from tax cuts and easy conditions fading through the year.
The euro, meanwhile, rallied against the dollar despite concerns about negotiations between Brussels and Rome on Italy's budget plans. It was changing hands at $1.1454, up 0.32 percent, after hitting two-week highs earlier.
Ned Rumpeltin, European head of FX strategy, at TD Securities in London, said a clear break above $1.1440, a minor trendline resistance, would target $1.15, while a close above that level would signal a change in trend in favor of the euro.
Elsewhere, sterling remained in the spotlight with the currency expected to stay under pressure until the market gets more clarity on the progress of the Brexit deal.
It rose 0.15 percent versus the dollar to $1.2856 after a 1 percent drop last week as British Prime Minister Theresa May's draft EU divorce deal met with stiff opposition and several ministers resigned