Dollar Declines With Hike Rate Bets

The U.S. dollar declined while investors bet that an interest rate hike by the Federal Reserve in the coming months is unlikely. The Wall Street Journal Index decreased by 0.2 percent at 86.67.

Fed-funds futures has shown that traders and investors have assigned a 48 percent chance of an interest rate hike by December, according to the CME. Data has shown that the likelihood of an increase at the Sept.20-21 Fed meeting is at 15 percent. The dollar declined against the Japanese yen by 0.1 percent at 102.43 while the euro increased by 0.2 percent at 1.1248.

In emerging markets, the dollar increased by one percent to 19.27 against the Mexican peso and it declined by 0.4 percent to 65.15 against the Russian ruble.

News are provided by InstaForex