Urgent: U.S. dollar slumps as rate-hike expectation dims

The U.S. dollar dropped against most major currencies on Friday as investors lowered their expectation for an interest-rate hike as early as September following the release of weak economic data from China.

In late New York trading, the euro rose to 1.1359 dollars from 1.1193 dollars in the previous session, while the dollar bought 122.06 Japanese yen, lower than 123.48 yen of the previous session. Enditem