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Dollar hits new two-month low ahead of key U.S. inflation report

At 03:15 ET (07:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% lower to 101.140, extending its losses from the beginning of the week after a number of Fed officials indicated the central bank was nearing the end of its monetary policy tightening cycle. An interest rate hike of 25 basis points at the Federal Reserve meeting later this month is largely priced in, but the U.S. consumer inflation report, due later in the session, could help dictate how many more hikes are left in the tank.