The dollar fell against most major currencies during trading on Monday as closely awaited comments by Federal Reserve Chairman Jerome Powell.
Minutes of the Federal Reserve’s meeting in July July are due later this week to get policymakers’ views and attitudes on the prospects of a rate cut.
Markets also await Fed Chairman Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium on Friday for further clues on the future of monetary policy.
FeedWatch showed markets expecting a 77.5% rate cut by 25 basis points during the September meeting, versus a 50 basis point monetary easing forecast of 22.5%.
In terms of trading, the dollar index fell by 20:41 GMT by 0.6% to 101.8 points, recording a high of 102.4 points and a low of 101.8 points.
Read also:Strong bets on a big fall of the dollar. The reason is the head of the Fed!
Australian Dollar
By 21:11 GMT, the Australian dollar rose 0.9% to 0.6732.
Canadian Dollar
By 21:11 GMT, the Canadian dollar rose 0.3% to 0.7334.
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