Dollar poised for weekly loss as markets sail into data fog

The dollar is set for a weekly loss as investors worry about a weakening U.S. economy and await a backlog of U.S. data. Despite higher yields and receding expectations for a Fed rate cut, the dollar fell to a two-week low against the euro. The British pound slipped after reports that UK leaders abandoned plans to raise income tax rates. The South Korean won rose after intervention by authorities, while the yen found some reprieve. The Australian and New Zealand dollars saw slight gains, and the Chinese yuan peaked at a one-year high.