Dollar Dives to 2024 Low, Gold at Record High on Revived Bets for Jumbo Fed Cut

GLOBAL MARKET - TOKYO. The dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week.

Shares in Asia also advanced after traders raised bets back to 45% for a 50-basis point U.S. rate cut on Sept. 18, according to LSEG data at 0510 GMT, from about 28% before articles in the Financial Times and Wall Street Journal each called the decision "a close call".