U.S. Dollar Slips As Bets On Federal Reserve Rate Hike Decline

India, Oct. 22 -- The U.S. Dollar value turned lower on Thursday amid reversal in the U.S. Federal Reserve's rate hike expectations from yesterday's 14% to nearly 7%. The shift overshadowed the safe-haven demand tied to concerns over high inflation that surfaced after New York Times reported possible fresh attacks on Iran by the U.S. in November.

Today, the U.S. Dollar Index DXY, which measures the Greenback against a basket of other major currencies, was last seen trading at 101.64, down by 0.14 (or 0.14%).

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