Dollar hits three-month low amid Fed easing

The dollar fell to its lowest level in three months, as market expectations for a Federal Reserve rate hike diminished following weaker U.S. economic data, including employment, inflation, and retail sales. The chances of a rate increase next month dropped to about one in three, from 75% in July, reducing the dollar's momentum. Upcoming global Purchasing Managers’ Index (PMI) data are expected to influence the currency's value, with markets also watching the Federal Reserve’s meeting minutes, which may signal a more cautious approach to monetary tightening.

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