No traction for dollar after Fed rates 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. Another warning by European Central Bank chief Mario Draghi that the bank would not hesitate in doing 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 portfoli