U.S. Dollar Slides As Near-Term Rate Hike Expectations Fade

India, Aug. 14 -- The U.S. Dollar value inches lower amid recent softer economic data which lowered expectations of a near-term rate hike by the U.S. Federal Reserve while the U.S. switches to pressure Iran through economic measures instead of military campaign, thereby reducing safe-haven demand. The U.S. retail sales data indicating a dip pressured the dollar further.

Today, the U.S. Dollar Index DXY which measures the Greenback against a basket of other major currencies was last seen trading at 99.64, down by 0.28 (or 0.28%).

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