Dollar keeps gains as traders bet Fed headed for a pause

The US dollar climbed this week, with investors speculating that the Federal Reserve will continue to hold off on interest rate increases because of a slowing US economy. The dollar index, which measures the US currency against six rivals, slipped back slightly to 102.02, still close to the 102.15 peak on 2 May. Markets are predicting a 98% probability that the Fed will not adjust interest rates in its June meeting, but have priced in significant rate cuts by the end of 2019.