US dollar exchange rate drops for third day as experts fear economy losing momentum

The dollar fell for a third consecutive day against its rivals on Monday on growing bets the US central bank will press the pause button on its rate hike cycle in the coming months. Notwithstanding strong monthly US jobs data for December last week, market watchers believe the world's biggest economy is losing momentum with Federal Reserve chairman Jerome Powell's comments adding to expectations the central bank may adopt a more cautious outlook.

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