LONDON—The dollar slid to a more than two-month low on Monday, extending a downtrend from last week as traders reaffirmed their belief that U.S. 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 percent decline from last week—the sharpest weekly fall since July.
