Dollar Tumbled as Chance of Fed Hike Faded on Market Turmoils It was another wild ride in the financial markets last week. Sharp deterioration in market sentiments started with renewed selloff in the Chinese stock markets and spread to the world quickly. DJIA suffered the worst weekly selloff in four years and ended the week down -1017.65 pts, or -5.8% at 16459.75. S&P 500 dropped -81.2 pts, or -4.0% over the week to close at 1970.89. China's Shanghai composite closed 3507.74, just inch above the 3507.19 close made in the Jun/Jul crash. Investors were deeply concerned with the impact of the down turn in China's economy on the world as a whole. Also, there were deep worries that China's desperate move to devaluate its currency earlier this month could trigger a currency war with other emerging markets. As a result of the turmoil in the financial markets, traders continued to pare back expectation of a September rate hike from Fed and thus, gave much pressure to the greenback. Full Report Here... | 
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