The dollar index stayed below 100 on Wednesday after declining in the previous session, pressured by soft US economic data that strengthened expectations for a Federal Reserve rate cut in December. US retail sales rose less than expected in September and consumer confidence dropped in November, signaling that consumer spending is cooling after months of strong demand. Markets are now pricing in about an 84% chance of a 25 bps Fed cut next month, up from 50% a week earlier. Reports also indicated that White House National Economic Council Director Kevin Hassett is being considered the leading candidate for the next Fed chair. Hassett has previously stated that rates should be lower than current levels. The dollar weakened broadly, posting the largest losses against the New Zealand and Australian dollars.