Dollar drops the most in nearly 2 months, gold jumps as Fed raises concerns about trade policy

ArticleCurrencyMarch 22, 2018 - 7:41:07 AM

The dollar fell 0.8 percent, in its worse decline in nearly two months, as trade war fears increased and the Fed increased the outlook for rate hikes.

The U.S. dollar had its biggest one-day decline in nearly two months on Wednesday amid concerns the U.S. could ignite a trade war with China and on doubts about the Fed's outlook.

As of 4:24 p.m. in New York, the dollar index traded 0.77 percent lower at 89.67 against a basket of currencies, its biggest decline since Jan. 24. It fell nearly 1 percent that day.

As the dollar fell, gold jumped. Gold futures for April rose 1.6 percent to $1,333 per ounce...

Source:cnbc.com

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