The dollar index slipped below 97.3 on Tuesday, marking a second straight decline as traders parsed Federal Reserve commentary for signals on interest rates. Several officials urged caution before cutting further, noting inflation appeared to be stabilizing.
In contrast, new Fed Governor Stephen Miran warned the central bank was misjudging policy tightness and risking the labor market without more aggressive easing. Attention now turns to Friday's PCE price index, the Fed's preferred inflation gauge, for fresh policy cues.
On the political front, congressional budget negotiations this week to prevent a government shutdown on September 30 have added to market uncertainty. The dollar weakened broadly, with the sharpest losses against the euro and sterling.
Source: Trading Economics
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