The dollar index is seen steadily losing ground and steadying around a two week low on Monday morning in Asia on rising prospects of an interest rate cut by the Federal Reserve (Fed) in its monetary policy meeting this month. Reports indicating White House National Economic Council Director Kevin Hassett as the leading candidate for the next Fed chair with his preference for lower interest rates is further adding pressure on the greenback. However, safe-haven demand for the greenback also eased amid ongoing talks over a potential Ukraine-Russia peace deal. The US ISM Manufacturing PMI will be published later in the day will be closely watched for further cues. The dollar index that measures the greenback against a basket of currencies is quoting at 99.45.
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