A week ago, investors braced for a return to a hefty 50 basis-point rate hike after Chair Jerome Powell said the Fed may have to raise rates to more than expected if data showed a still-hot economy.
Dollar feeble as rate hike bets dwindle, Iran war worries grow
The U.S. dollar weakened against major currencies as traders scaled back tightening expectations. Soft economic data, including retail sales and job losses, influenced these shifts.