U.S. Dollar Holds Near Five-Week Low as Markets Price 85% Odds of Fed Rate Cut

The U.S. dollar remained weak near a five-week low, with markets pricing in an 85% probability of a Federal Reserve rate cut in December, LSEG data show. On Wednesday, the ADP private sector employment report fell short of expectations, while ISM services data showed easing price pressures. The moves followed signals from Trump regarding a potential nomination of Hassett as the next Fed Chair.