Dollar Down, Heads Towards Monthly Loss as Bets on Aggressive Fed Subside

Dollar Down, Heads Towards Monthly Loss as Bets on Aggressive Fed Subside

By Gina Lee

Investing.com – The dollar was down on Monday morning in Asia, nursing the previous week’s losses and set for its first monthly drop in five months. Investors have reduced bets that rising U.S. rates will drive further gains and as fears of a global recession have subsided a little.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies was down 0.23% to 101.27 by 1:32 AM ET (5:32 AM GMT).