US Dollar Price Forecast: Fed Hike Bets Fade as EUR/USD and GBP/USD Rally The US dollar has been on a downward spiral in recent days, driven by weakening economic data and shifting expectations.
The latest releases have been underwhelming, with retail sales slumping in July and consumer sentiment worsening.
Inflation data has remained stubbornly high, leading to a sharp decline in the odds of another rate hike from the Federal Reserve.