Federal Reserve officials hint at imminent interest rate cuts, leading to a broader decline of the dollar

According to HashChain news, the dollar fell to a nine-day low against a basket of currencies, as Federal Reserve official Kashkari hinted that interest rate cuts are forthcoming. Former Fed Chair Daly also seemed to suggest that rate cuts are imminent. Last Friday's U.S. employment data came in below expectations, increasing anticipations for a rate cut by the Fed in September. According to LSEG data, the U.S. money market currently anticipates a 91% chance of a rate cut in September.