Dollar under pressure on weak stocks ahead of US retail data

The greenback has fallen this week against all 10 developed-nation currencies except the Norwegian kroneThe dollar came under further selling pressure on Friday as investors turned cautious over falling global stocks while awaiting fresh US data on retail sales later in the day. The prospect of a gradual tightening of US monetary policy if and when the US Federal Reserve starts raising interest rates has weighed on the US currency. “The Fed may be seeing that there’s no need to force markets to increase how much they are pricing in a December rate hike,” said Etsuko Yamashita, chief economist at Sumitomo Mitsui Banking Corp. in New York.

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