(Bloomberg) — The dollar fell to a two-month low on speculation disappointing economic data will push back the Federal Reserve's first interest-rate increase in nine years.
An index tracking the greenback against major peers declined for a fifth day, the longest streak since July, as a measure of consumer confidence was the latest indicator to trail projections. Policy makers will consider that data as they debate higher borrowing costs at a two-day meeting starting Tuesday.
"Consumer confidence today is not helping the dollar at all," said Omer Esiner, chief market analyst at the currency brokerage Commonwealth Foreign Exchange Inc. in Washington. "If we get that cautiousness from the Fed, if we get that heightened focus on the softness of recent economic data, then I think the dollar goes a little bit lower in the near term."
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