No traction for dollar after Fed rate expectations collapse

The triggers then were a weak batch of U.S. sentiment data and New York Fed President William Dudley's warning that a weakening outlook for the global economy would have to be taken into account for upcoming rate decisions. European Central Bank President Mario Draghi's repeated assertion that the bank would not hesitate to do what was necessary to get inflation back to its roughly 2 percent target did little to weaken euro buying. "The dollar is on its knees," said Richard Benson, head of portf