Dollar sags as bets build for less hawkish Fed

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Reuters UK

By Kevin Buckland TOKYO (Reuters) – The dollar wallowed near a three-week low versus major peers on Wednesday as more signs of economic weakness in the United States fanned speculation about a less hawkish Federal Reserve. Sterling hung close to the six-week peak reached on Tuesday after new British Prime Minister Rishi Sunak pledged to lead the country out of an economic crisis. The euro also remained near a six-week high, trading less than half a cent from parity with the greenback. The European Central Bank decided policy on Thursday and is widely expected to raise rates by 75 basis points….

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