Dollar Takes a Hit as Weak US Data Leads to Pared Fed Rate-Hike Bets

The US dollar fell against most major peers after weak economic data reduced bets on a Federal Reserve interest-rate hike next month, with traders paring their expectations for a rate increase in December. The Bloomberg dollar gauge slipped 0.1% and other currencies such as the euro and yen rose against the dollar. The decline was largely due to concerns that the Fed may slow its rate-hike cycle amid weak economic data.