Dollar slides to over two-month low as Fed cut bets take charge

LONDON, Nov 20 (Reuters): The dollar slid to a more than two-month low on Monday, extending a downtrend from last week as traders reaffirmed their belief that US rates have peaked and turned their attention to when the Federal Reserve could begin cutting rates.

The dollar index bottomed out at 103.53 during Asian trade, its weakest level since Sept. 1, extending its nearly 2 per cent decline from last week - the sharpest weekly fall since July.

Against the weaker greenback, the euro hit its highest since August at $1.0937, while the yen firmed at a 5-1/2 week high of 148.63 per dollar.