India, Oct. 20 -- The U.S. dollar weakened against other major currencies in the European session on Tuesday, due to declining expectations of Federal Reserve (Fed) rate rises and worries over AI overinvestment.
Investors come to terms with the fact that the US central bank will stand pat on rates at next week's monetary policy meeting. The odds for a quarter-point rate hike have dropped to 17% from nearly 60% last week, according to data by the CME's Fed Watch Tool, after some Fed officials affirmed that they need more time to assess the impact of September's hike.
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