On Monday, the dollar index reached its lowest level in over two months, extending a decline from the previous week. Investors widely perceive that the U.S. Federal Reserve has concluded its cycle of interest rate hikes and are now anticipating when the central bank might initiate rate cuts.
The dollar index touched a nadir at 103.37, marking its lowest point since September 1. This decline follows a nearly 2% drop last week, representing the most substantial weekly percentage decrease since mid-July.
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