Dollar Index Dips Amid Reduced Fed Hike Expectations

The US dollar index declined on Monday as traders scaled back expectations of a Federal Reserve interest rate hike this year. The yen strengthened against the dollar, gaining 0.2% to 159.075 per dollar.

This follows Japanese GDP data showing annualized growth of 1.1% in the second quarter.

The euro advanced 0.1% to $1.1585, reaching a two-month high, while the British pound gained 0.1% to $1.3551, approaching its strongest levels since May.