US Dollar suffers following July's disappointing jobs report, which sparks increased expectation in September rate cut.
If data continues to show progress, the Fed signals readiness to respond to signs of weakness in the US economy.
CME FedWatchTool indicates a 90% chance of a cut in September.
The US Dollar (USD), as gauged by the DXY index, experienced heavy selling pressure following the July jobs report on Friday, sliding to lows not seen since March near 103.20.
With a September rate cut seemingly in sight, any signs of vulnerability in the US economic landscape could weigh on the USD and increase dovish sentiment toward the Federal Reserve (Fed).
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