USD is pressured by a pullback in US Treasury yields due to anticipated clarity on the Fed's policy.
Fed officials express concern over potential easing with the US economy growing above trend.
Investors await Powell’s remarks at the Jackson Hole Symposium on Thursday.
On Monday, the US Dollar (USD), measured by the US Dollar Index (DXY), declined to its lowest level since January around 102.20 following a pullback in US Treasury yields. Market participants are awaiting clarity on the Federal Reserve's (Fed) policy outlook.
Despite the modest setback, the US economy indicates sustained progress above trend, which suggests the market may be overestimating aggressive future easing.
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