Dollar Weakens on Oil Price Drop Ahead of Major Central Bank Meetings

The US dollar declined against major currencies on Monday as a sharp drop in crude oil prices reduced expectations for aggressive interest rate hikes by central banks.

Brent crude futures fell more than 3% in early trading, extending a recent slide driven by concerns over global demand and potential oversupply.

The plunge in energy prices has influenced market pricing for central bank policy, easing inflationary pressures and reducing the urgency for tighter monetary policy.