Dollar skids after weak U.S. services data
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The dollar fell to a four-week low against the yen and a one-week trough versus the euro on Thursday, as investors fretted that weakness in both the U.S. manufacturing and service sectors signals a slowdown in the world's largest economy.Expectations that the United States would continue to outperform other major economies and put pressure on the Federal Reserve to slow its interest rate cutting cycle were dampened this week after weak manufacturing and service sector surveys.
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