Dollar Weakness Continues Amid Reduced Rate Hike Expectations

The US dollar has hovered near multi-month lows against major currencies due to softer Treasury yields and reduced expectations of another near-term Federal Reserve rate increase.

According to Stephen Innes, a financial market strategist and commentator, the latest dollar weakness is being driven by softer US economic readings and changing expectations around Federal Reserve policy.

Investors are now waiting for the minutes of the Federal Reserve's July meeting for further clues on the direction of interest rates, with the release drawing added attention following the recent move in US bond markets.