Dollar Dips as Chances Grow for Fed ‘Skip’, Debt Bill Passes

Dollar Dips as Chances Grow for Fed ‘Skip’, Debt Bill Passes
U.S. one-dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington on Nov. 14, 2014. Gary Cameron/Reuters
Reuters
Updated:

LONDON—The dollar was heading for its largest weekly fall since mid-January on Friday as the view took hold among investors that the Federal Reserve will forgo an interest rate hike this month, which would diminish the greenback’s appeal to non-U.S. buyers.

The U.S. Senate’s passage of a bill to suspend the debt ceiling and avert a disastrous default also removed a pillar of support for the dollar, which had paradoxically been a key beneficiary of the uncertainty because of its safe-haven status.