Dollar Extends Losses After Fed Officials Hint at Imminent Rate Cut

According to Jinse Finance, the US dollar fell to a nine-day low against a basket of currencies after Minneapolis Federal Reserve President Kashkari hinted that the Fed may soon resume interest rate cuts. San Francisco Fed President Daly also suggested on Monday that a rate cut could happen soon. US employment data released last Friday was weaker than expected, boosting expectations for a Fed rate cut in September. Data from LSEG shows that US money markets currently estimate a 91% probability of a rate cut in September.