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

September 13, 2024, 01.22 PM | Source: Reuters
Dollar Dives to 2024 Low, Gold at Record High on Revived Bets for Jumbo Fed Cut

ILUSTRASI. The dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high.

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".

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