Dollar Extends Losses as Rate-Cut Bets Firm

Core Viewpoint - The dollar has reached a one-month low against a basket of currencies due to increasing expectations of U.S. interest rate cuts following President Trump's hint at nominating Kevin Hassett as the next Federal Reserve Chair [1] Group 1: Market Response - The market has reacted to the news with a weaker dollar and a more pronounced decline in short-end yields compared to long-end yields [2] - There has been a rally in risky assets, which may continue until the Federal Reserve's decision on December 10 [2]