Higher US interest rate forecasts and China’s ongoing economic difficulties strengthened the greenback.
The US dollar index slipped 0.1% to 103.24, but it stayed close to Friday’s high of 103.68, a level not seen since June 12.
The US dollar index – which measures the currency against six developed-market counterparts, including the yen and euro – slipped 0.1% to 103.24, but remained not far from Friday’s high of 103.68, a level not seen since June 12. Money markets currently lay a bit less than 50/50 odds for another 25 basis point Fed hike by November, before the central bank shifts to rate cuts next year.
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