SYDNEY/TOKYO: The dollar came under light pressure against a basket of major currencies in Asia on Monday, with traders speculating the Federal Reserve may offer more stimulus next month in the face of an uncertain growth outlook.
While Fed Chairman Ben Bernanke gave no details of further action to boost the U.S. recovery at an eagerly awaited speech on Friday, he said the central bank would extend its September policy meeting to two days to consider its options.
"If the economy were to fall into recession, we believe the Fed would initiate another round of quantitative easing," Michael Carey, chief economist for North America for Credit Agricole, said in a note to clients.
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