U.S. dollar falls for third straight session as Fed’s next interest hike looms

The U.S. dollar was lower against a basket of major currencies on Monday, as investors weighed the implications of a rate hike by the U.S. Federal Reserve in an economy that teeters on the edge of recession.Reuters:The central bank is widely expected to raise interest rates by 75 basis points at the conclusion of its policy meeting on Wednesday. A hike of that magnitude would effectively close out pandemic-era support for the economy.
Expectations for a hike of 75 basis points from the Fed stand