Reported about 14 hours ago
The dollar rebounded against major currencies on Monday following a significant drop last week attributed to Federal Reserve Chair Jerome Powell's comments that increased the likelihood of a rate cut in September. The dollar index rose 0.49%, while expectations for a 25-basis-point rate cut remain high, though traders are cautious amidst fluctuating job and inflation data. Additionally, euro zone bond yields increased as market participants reassessed their views on the Fed's future actions amid ongoing concerns about the central bank's independence.
Source: YAHOO