Shares steady, dollar slips as markets pare Fed rate risks

LONDON, Aug 17 : Global shares edged higher and the dollar fell to its lowest level since June on Monday after a run of soft U.S. economic data, including an unexpected drop in retail sales, saw markets reduce bets for an imminent rate hike from the Federal Reserve.A hike next month is now priced at 30 per cent, down sharply from about 50 per cent a week earlier, according to the CME Group's FedWatch tool.The STOXX benchmark of 600 big European companies inched up 0.04 per cent, led by resources stocks as gold prices advanced, while in the U.S. Nasdaq futures firmed 0.5 per cent and S&P futures 0.2 per cent. There was subdued reaction in the Korean won after U.S. President Donald Trump instructed the Pentagon to substantially reduce joint military exercises with the country, while South Ko