FOREX-Dollar hits 3-week lows on U.S. rate-hike doubts

* Euro holds below $1.14, Aussie hits 8-week high

* Fed's Fischer: Dec (Shanghai: 600875.SS - news) rate rise "expectation, not commitment"

* Fed's Lockhart: U.S (Other OTC: UBGXF - news) . rate hike remains data dependent

* U.S. trading light due to holiday

(Updates late U.S. market action)

By Richard Leong

NEW YORK, Oct (HKSE: 3366-OL.HK - news) 12 (Reuters) - The dollar was little changed

on Monday after earlier hitting a three-week low versus a basket

of major currencies on doubts whether the Federal Reserve would

raise interest rates later this year in the face of a weakening

global economy.

With short-dated U.S. rates pinned at the low-end of their

recent trading range, the greenback has weakened especially

against the euro. It (Other OTC: ITGL - news) was almost 10 cents lower against the euro

from this year's highs back in March.

U.S. market activity was light due to a U.S. federal

holiday.

Most U.S. central bank officials in recent days have said a

rate hike by year-end remains on the table, after leaving rates

near zero last month as they cited global risks and market

turmoil.

The Fed, which last raised rates in 2006, will next meet on

Oct. 27-28, followed by its last meeting of the year in

December.

Analysts polled by Reuters forecast a possible rate hike at

the December meeting, while interest rates futures implied

traders see such a move more likely in March 2016.

"Right now, market expectations is that the Fed will be on

hold in October. We'll see in December," said Robert Zukowski,

an analyst at 4Cast Ltd. in New York.

On Monday, Atlanta Federal Reserve President Dennis Lockhart

said that while the central bank could have enough data to

consider a rate hike at its meeting later this month, it will

have a "lot more" data in December.

On Sunday, Fed Vice Chair Stanley Fischer said a December

rate hike was "an expectation, not a commitment."

The dollar index declined to a three-week low of

94.619 before edging up to 94.832, little changed from late

Friday.

The greenback was down 0.2 percent against the yen, at

119.96 yen, while the euro was up 0.1 percent versus the

dollar, at $1.1363, after hitting a three-week high of

$1.1396.

With a U.S. rate hike this year not a sure bet,

emerging-market and commodity-linked currencies have recovered

against the dollar in recent weeks.

"We could get some further weakness in the dollar versus the

euro and yen, but those two are mainly along for the ride. Most

of the weakness will be concentrated on emerging currencies,"

said Stephen Gallo, a strategist with Canadian bank BMO in

London.

The Australian dollar gained 0.3 percent to an eight-week

high of $0.7360. It gained 4 percent last week, its

biggest weekly increase since late 2011.

(Additional reporting by Patrick Graham in London; Editing by

Chizu Nomiyama and Leslie Adler)