Dollar Near Two-Month Low Amid Anticipation for Inflation Data

The US dollar has weakened to near a two-month low against major currencies as investors await key inflation data for clues on the Federal Reserve's rate path.

Data released last Friday showed the US economy unexpectedly shed jobs in July, with job gains for the prior two months revised sharply lower. This dented expectations for a Fed rate hike next month, with markets trimming hike odds to around 44% from 67% a week ago.

The dollar index, which tracks the currency against six major peers, has hovered near its lowest level since June 2 at 99.6.