Dollar hedges lower before US data deluge?
Dollar hedges lower as investors are cautious ahead of US economic data due this week. Market is anticipating softer Durables Goods Orders in January and a sharp downward revision to 4Q economic growth figures. Soft economic data in the US this week would likely strengthen the argument of analysts expecting the Federal Reserve to cut the Fed Funds rate from 5.25% this year in order to fight a slowing economy. Strategists are warning about some risk for the Dollar following those releases and Dealers already said the Dollar lost some support on Monday as trading volumes were much lower than usu l.