Dollar Index Stalls Near Two-Month Low Amid Fading Rate Hike Expectations

The dollar index has remained steady in Asian trading on Tuesday morning, holding close to its two-month low. The index measures the value of the US dollar against a basket of currencies and currently stands at 99.56, unchanged from Monday's closing price.

This stability comes as investors reassess their expectations for a Federal Reserve rate hike following weak economic data released last week. Retail sales and consumer sentiment declined, while inflation readings remained subdued.

The market is now looking to the minutes of the Fed's July meeting and comments from Chairman Kevin Warsh at the annual Jackson Hole symposium for further guidance on monetary policy.