Market Briefing: Greenback fades against thinning liquidity backdrop
The dollar is trading on a softer footing against most of its major counterparts after several Federal Reserve officials helped solidify market expectations for a smaller, half-percentage point hike at the December meeting. In separate comments yesterday, San Francisco Fed’s Mary Daly said “I think we can slow down from the 75 at the next meeting” and Cleveland’s Loretta Mester stressed the need to be “mindful” of the risks involved in tightening too much. Oil prices are holding steady after yesterday’s whiplash-inducing session. Front-month West Texas Intermediate plunged by more than $5 a barrel when the Wall Street Journal claimed...