Dollar Index Drops Below 100 as Traders Eye ECB Decision and Data Deluge

The US Dollar Index (DXY) slid below the crucial 100.00 level as traders braced for key data releases and the European Central Bank's interest rate decision.

The index hovered around the 99.00 mark ahead of the Labor Day holiday on Monday, but failed to hold above 100.00.

Market participants are now focusing on the upcoming data docket, which kicks off on September 8 with releases including NFIB Business Optimism Index and Consumer Inflation Expectations.

The US dollar's volatility is expected to intensify as major economic indicators are set for release throughout the week, culminating in the ECB decision on September 10.