Dollar set for weakest month in a year
Yen back from the brink; strongest month in 2023
Inflation data takes the spotlight
MORNING BID EUROPE Treasuries on the cusp of best month since 2008

SINGAPORE, Nov 30 Reuters The dollar was rooted near a threemonth low on Thursday and was set to post its steepest monthly decline in a year as investors ramped up bets that the Federal Reserve is done with rate hikes ahead of a crucial inflation report later in the day.

The dollar index , which measures U.S. currency against six rivals, eased 0.058 to 102.74, not far from 102.46 its lowest since Aug. 10 it touched on Wednesday.

The index is down 3.7 in November on growing expectations the Fed will cut interest rates in the first half of 2024.

The dollar clawed back some of its losses on Wednesday after data showed the U.S. economy grew faster in the third quarter than initially reported.

I think it39;s still pretty much all about U.S. yields. And by extension FOMC policy, said Carol Kong, currency strategist at Commonwealth Bank of Australia.

Markets will continue to focus on what FOMC officials say about the prospect of the upcoming ratehike cycle.

Investors will be all ears on Friday when Fed Chair Jerome Powell takes the centre stage in the wake of Fed Governor Christopher Waller on Tuesday flagging a possible rate cut in the months ahead.

But before that, the spotlight will firmly be on Thursday39;s crucial personal consumption expenditure PCE price index the…