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fxAug 17, 2026, 2:55 AM

Dollar Index Slips Toward 99.50 as Fed Rate Hike Bets Ease

The US Dollar Index weakened to near 99.50 in Asian trading on Monday after soft US retail sales data pushed traders to lower Federal Reserve rate hike expectations.

DXY

The US Dollar Index was trading near 99.50 during Asian hours on Monday, losing momentum as markets digested the latest US data. The index tracks the dollar against a basket of six major currencies.

Traders pushed back bets on further Federal Reserve rate hikes after US retail sales unexpectedly declined. That shift in policy expectations added pressure on the greenback, pulling the DXY lower.

Source: FXStreet Forex News