The dollar index (DXY00) on Friday fell to a 1.5-week low and finished down by -0.08%. The dollar gave up early gains last Friday and moved lower on increased chances that the Fed will cut interest rates at next month’s FOMC meeting. Swaps markets now discount an 83% chance of a Fed rate cut next month, up from 30% last week, weighing on the dollar. Strength in stocks on Friday also limited liquidity demand for the dollar. The dollar is also under pressure after Bloomberg reported on Tuesday that Kevin Hassett is at the top of the list of potential candidates to succeed Jerome Powell as US Fed Chair. Hassett’s ... (full story)