U.S. Dollar Strengthens as Traders Price Out October Fed Rate Hike
The dollar strengthened against major currencies in the European session. Traders were pricing out the likelihood of an October Fed rate hike, while expectations for a 25-basis-point increase in December remained firmly on the table.
S. dollar gained against other major currencies during Monday’s European session as traders reduced expectations for a rate hike at the Fed’s late-October meeting. A 25-basis-point increase in December remained firmly on the table.