By Chuck Mikolajczak NEW YORK (Reuters) – The dollar was lower against a basket of major currencies on Monday, as investors weighed the implications of a rate hike by the U.S. Federal Reserve in an economy that may be on the verge of a recession. The central bank is widely expected to raise interest rates by 75 basis points at the conclusion of its policy meeting on Wednesday. A hike of that magnitude would effectively close out pandemic-era support for the economy. Expectations for a hike of 75 basis points from the Fed stand at about 75%, according to CME’s Fedwatch Tool https://www.cmegroup…