US dollar slumps after weak data markets betting Fed near end of hiking cycle

NEW YORK (Reuters) – The U.S. dollar sank to a two-month low on Tuesday as another round of weak economic data reinforced investor bets that the Federal Reserve is nearly done with its tightening cycle even as other central banks are seen still raising interest rates to overcome persistently high inflation. Sterling rose to a new 10-month high against the dollar, while the euro reached its highest since February. Data showing U.S. job openings in February dropping to the lowest in nearly two years, and the continued decline in factory orders, undermined the dollar as the numbers indicated that rate…