"He's cautious about the recovery and it seems he's referring to lowering rates possibly again at the next meeting" of the Fed's Open Market Committee, said Urit Bocian, a currency trader at Israel Discount Bank. That prospect may weaken the dollar in the near term, she said.
The US government said there was a larger-than-expected decline last month in US producer prices. Falling prices suggest the Fed has room to lower interest rates again.
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