Golden Finance reported that CME's Fed Watch tool currently shows a 58% chance of a 50 basis point rate cut in November. Bannockburn's Marc Chandler said that expectations that the Fed will cut interest rates by another 50 basis points in November weighed on the dollar yesterday, although it has since recovered. The US Conference Board Consumer Confidence Index for September was lower than expected yesterday, showing weak consumer confidence, especially in the labor market, sparking speculation that the Fed will cut interest rates by another 50 basis points.