US Dollar is showing additional losses, DXY index finds support at the 104.00 area.
Markets are increasingly confident about a September rate cut.
Jerome Powell's upcoming speech may potentially influence the USD.
The US Dollar measured by the DXY maintains its bearish trajectory, hitting lows from April around 104.00. The downturn is largely attributed to signs of disinflation in the US economy, which is fostering confidence in the markets for a potential Federal Reserve (Fed) rate cut in September.
Despite boosting market certainty of a rate cut, Fed officials are adopting a cautious stance by emphasizing that their decision remains highly reliant on data.
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