Dollar Index Slides to 99.70 as Fed Rate-Hike Bets Recede

The US Dollar Index, which measures the greenback against a basket of major currencies, remained under pressure during the first half of European trading on Friday. The index extended its pullback after touching a two-week high in the prior session and traded near 99.75–99.70.

The decline came as investors scaled back bets on additional Federal Reserve rate hikes, reducing demand for the dollar. The move reinforces a softer near-term tone for DXY after the earlier recovery stalled.