Dollar weakens as investors bet Fed won’t hike rates in 2016

The dollar weakened Wednesday against nearly all of its developed and emerging-market rivals as investors bet that the Federal Reserve would leave interest rates unchanged for the rest of 2016.

The ICE U.S. Dollar Index DXY, +0.16% a measure of the dollar’s strength against a basket of six rival currencies, was down 0.5% at 95.6670. The Wall Street Journal dollar index BUXX, +0.05% which measures the dollar’s strength against a broader basket of currencies than the ICE index, was down 0.4% at 86.25.

U.S. economic data has been mixed in recent weeks. Data released on Friday showed the pace of job creation in the U.S. was much stronger than anticipated in July, helping to offset concerns about sputtering economic growth fostered by a weaker-than-expected reading on second-quarter gross domestic product.

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