Doha: The US dollar is on track to record its largest weekly decline since late July, as growing market expectations point to a potential interest-rate cut by the Federal Reserve at its December meeting, amid thin global liquidity due to the US Thanksgiving holiday.

According to Qatar News Agency, the dollar index, which tracks the performance of the greenback against a basket of six major currencies, edged up 0.1% in recent trading to 99.624 points, recovering part of its losses after five consecutive days of decline. Despite the slight rebound, the index is still heading for its worst weekly performance since July 21.

In the bond market, yields on the benchmark 10-year US Treasury notes rose by around 0.8 basis points to 4.0037% in late trading, following a five-day losing streak.

Global markets continue to closely monitor developments in US monetary policy, as investors assess the Federal Reserve's next steps, which are expected to play a decisive role in shaping the dollar's direction in the coming period.