Forex - Dollar stays weak near Euro record high and Yen 2 ? year low
The Dollar slid further to a fresh 2-1/2-year low against the Yen on Monday in line with falls in US equities, as renewed credit worries affirmed expectations that more US rate cuts are imminent. The interest rate futures market has fully priced in a 0.25% monetary policy easing by the Fed when it next meets on Dec. 11, to 4.25% and show a 20% implied chance it could cut rates by a 0.5% instead.
EurUsd was up 0.26% at 1.4877, within sight of the lifetime high of 1.4967 set on Friday. ECB Governing Council member Nout Wellink said on Monday its rise against the Dollar was not of “immediate conc rn” for European exporters but a further ascent would be “worrying”.