(Bloomberg) — The dollar fell to a two-month low on speculationdisappointing economic data will push back the Federal Reserve'sfirst interest-rate increase in nine years.
An index tracking the greenback against major peers declined fora fifth day, the longest streak since July, as a measure ofconsumer confidence was the latest indicator to trail projections.Policy makers will consider that data as they debate higherborrowing 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 brokerageCommonwealth Foreign Exchange Inc. in Washington. "If we get thatcautiousness from the Fed, if we get that heightened focus on thesoftness of recent economic data, then I think the dollar goes alittle bit lower in the near term."
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