U.S. dollar hits three-month low against peers

The U.S. dollar hit a three-month low against peer currencies after weaker-than-expected new home sales data. The dollar index was at 103.11, its lowest since Aug. 31, and is on track for a more than 3% loss in November, its worst performance in a year. Market expectation suggests a 25% chance of the Fed cutting rates by March, increasing to nearly 45% by May. Traders are watching for U.S. core PCE price index and OPEC+ decision. The Australian dollar and kiwi both reached multi-month highs before falling. The yen held around 148.10. The Bank of Japan is expected to make a move at its April meeting.