The US Dollar Index falls for a second day, approaching 97.50 as traders weigh Fed policy and economic data.
The US Dollar Index (DXY) declined for a second consecutive session, trading near 97.90 in European hours as selling pressure intensified. The gauge, which tracks the USD against six major currencies, is nearing two-month lows around 97.50.
The move follows a broader pullback in the dollar amid expectations of Federal Reserve rate cuts later this year. Recent economic data, including softer inflation prints, has reinforced bets on a dovish shift. The index last tested these levels in mid-April, when it dipped below 97.00 before rebounding.
Market reaction has been muted, with traders awaiting further cues from upcoming US jobs data and Fed commentary.