Forex
Dollar Falls to Lowest Level in Over Two Months
The US dollar fell to its lowest level in over two months on Monday as investors reassessed their expectations for further rate hikes from the Federal Reserve.
Markets trimmed bets against a US rate hike, which had been seen as increasingly likely following a run of softer economic data. As a result, the euro surged to a two-month high at around $1.1614, while the yen strengthened 0.13% to around 159.15 per dollar.
The repricing comes ahead of next week's Jackson Hole symposium, where investors will look for clues on policymakers' interpretation of the latest economic data.