Dollar's Losses Extended, but Stabilizing Ahead of the North American Session

The US dollar continues to trade heavily after the series of softer than expected data since the loss of US jobs in July. The stabilization of price pressures and the decline in retail sales have seen the market downgrade the chances of a rate hike next month. At the end of July, the market was discounted a little more than a 70% chance of a hike and now it is about 30%. In the current…