Doha: The dollar sank to a 2-1/2-month low against the euro with investors cemented bets for a Federal Reserve interest rate cut this week. The greenback changed hands just shy of a more than two-month low on the British pound while the euro was little changed early in Asia’s morning, changing hands at $1.1765. Sterling was steady at $1.3605 after reaching $1.3621 in the previous session for the first time since July 8. The Australian dollar held firm at $0.6672 and the US dollar was flat at 147.42 yen.

According to Qatar News Agency, the currency market has been closely monitoring the Federal Reserve’s upcoming decision, which has driven significant speculation and trading activity. This anticipation of a potential rate cut has caused fluctuations in major currency pairs as investors adjust their positions in response to possible changes in monetary policy.