(Reuters) - The dollar rose against the yen and trimmed losses against the euro on Thursday after a report showed business activity in the U.S. Midwest expanded at a faster pace than expected.
The data offset a weaker-than-expected U.S. economic growth number for the first quarter reported earlier and reduced the perceived chances of interest rate cuts by the Federal Reserve this year. Markets still expect the Fed to hold rates steady at its next monetary policy meetings in June and August.
Read more at Reuters Africa
The data offset a weaker-than-expected U.S. economic growth number for the first quarter reported earlier and reduced the perceived chances of interest rate cuts by the Federal Reserve this year. Markets still expect the Fed to hold rates steady at its next monetary policy meetings in June and August.
Read more at Reuters Africa
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