Khaberni - The CME Group's Fed Watch tool showed that markets are expecting with an 88% probability that the Federal Reserve (the US central bank) will lower the interest rate by 25 basis points at its upcoming meeting on December 10, compared to 63% a month earlier.
The dollar fell on Tuesday after manufacturing activity data in the world's largest economy showed weaker performance than expected, increasing pressure on the Federal Reserve (the US central bank) to cut interest rates at its upcoming monetary policy meeting later this month.
