Mounting speculation of further rate cuts by the Federal Reserve next week weighed down the US Dollar (USD) on Wednesday, a view reinforced after US Producer Prices rose less than expected in August.
Yesterday, when reports emerged that the Bank of Japan is still considering raising interest rates this year, I experienced a slight sense of déjà vu, Commerzbank's FX analyst Michael Pfister notes.
The Euro (EUR) edges lower against the US Dollar (USD) on Tuesday, with EUR/USD snapping a two-day winning streak as the Greenback found renewed demand in the wake of the US Nonfarm Payrolls (NFP) benchmark revision.