Market News
Dollar set for biggest weekly fall in four months, Fed path in focus - REUTERS
By Tom Westbrook and Stefano Rebaudo
Summary
- Dollar on defensive before Thanksgiving, Fed December cut eyed
- Euro edges down after hitting 1-1/2-week high
- Kiwi rises on hawkish central bank shift
- Aussie gains on inflation data
Nov 27 (Reuters) - The dollar was drifting toward its largest weekly drop in four months on Thursday as trade thinned ahead of the U.S. Thanksgiving holiday, leaving investors mulling the coming year where the U.S. is looking increasingly lonely in cutting rates.
The yen edged 0.2% higher to 156.11 per dollar in Asia trade, helped by a hawkish turn in tone from Bank of Japan officials.
U.S. markets are shut for Thanksgiving, leaving liquidity thin and amplifying moves in currency trading.
