I can understand why equites are doing well on the rumours of a rate cut, but i dont seem to understand why the dollar is doing well, as a lower interest rate means a lower rate of return for investors.
some help with this would be greatly appreciated 
What Dollar are you looking at? I guess you’re referring to our (US) Dollar? If so, it’s barely holding it’s head above water.
Sure, into month & years end it’s receiving oxygen due to position squaring & profit taking etc, but the overall generic fundamentals haven’t shifted at all.
There will be pressure release rallies for the Dollar as it gets savaged against it’s main trading partners, but they’ve merely been opportunites to step in & aggressively sell it again.
It’s going to take a big shift in momentum & some heavy fundamental reasoning to alter the depressed tone of the greenback in the short to mid term.