The U.S. dollar stayed weak against most of its major counterparts on Wednesday, extending declines from the previous session, amid bets the Federal Reserve will cut rates by March 2024.
In economic news, data showed the Richmond Fed Manufacturing Index dropping to -11 in December, worse than the market consensus of -7. The report said shipments fell from -8 to -17, new orders decreased from -5 to -14, and employment edged down from 0 to -1.
The dollar index dropped to 100.83 and stayed well below the flat line right through the day's session. It was last seen at 100.94, down more than 0.5% from the previous close.
Against the Euro, the dollar weakened to 1.1108 from 1.1045, and against Pound Sterling, it dropped nearly 0.6% to 1.2800.
The dollar is trading at 141.82 yen, down from Tuesday's close of 142.40 yen. Against the Aussie, the dollar is down at 0.6846. The Swiss franc has firmed against the dollar to CHF 0.8433 from CHF 0.8536, while the Loonie is down marginally at 1.3211 against the dollar.
