Market News
US dollar retreats as prospect of Fed rate cuts overshadows growth data
Summary
- US Q3 growth rises more than expected, dollar cuts losses
- Drop in US consumer confidence in December weighs on dollar
- Traders still watching for yen intervention
NEW YORK, Dec 23 (Reuters) - The U.S. dollar weakened on Tuesday in a holiday-shortened week after data showing strong growth in the world's largest economy failed to shift sentiment on a currency under pressure from expectations of Federal Reserve interest rate cuts next year.
