Forex
Dollar Slumps as Fed Hike Bets Are Cut
The US dollar started September on a weak note as investors scaled back their expectations for a Federal Reserve rate hike this month.
The Bloomberg Dollar Spot Index was poised to close the week down 0.7% after reaching its lowest level since May on Thursday, driven by reduced bets on a rate increase at the Fed's September 16 decision.
Fed Governor Christopher Waller pointed to progress in taming inflation, adding to pressure on the greenback amid lingering concerns over the US fiscal outlook.