NEW YORK CITY (TNS) — The dollar fell to its weakest level in three months as investors scaled back expectations for further Federal Reserve interest-rate increases following a run of softer U.S. economic data.
The Bloomberg Dollar Spot Index dropped for a third day, touching its lowest level since May 15 after falling as much as 0.3%. The decline came as traders cut the chance of a Fed hike next month to just one-in-three, down from about 75% in late July. One-month options have turned against the dollar for the first time since late February.
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