US dollar slips from 18-month high on Fed hike doubts
Business
The US dollar just slipped after reaching its highest point in 18 months.
This drop happened because investors are betting the Federal Reserve won't hike interest rates this month, and there's been a rush into government bonds.
As a result, the dollar index fell to 101.99 on Thursday.
US producer prices jump, currencies gain
Investors are paying close attention to cautious signals from Fed officials and worries about AI companies' debt.
With most traders expecting interest rates to stay put, other currencies like the euro and pound have gotten stronger against the US dollar.
Meanwhile, producer prices in the US rose by the most in 4-1/2 years in September, keeping everyone on edge about what comes next for global markets.