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The U.S. Dollar is trading lower against a basket of peers early Monday, hitting its lowest level since March 3 in the process.
Ahead of the opening, investors were betting on Fed policymakers to lean toward reducing bond purchases at its meeting on Tuesday and Wednesday, however, Reuters is reporting that there is speculation U.S. Federal Reserve Chairman Jerome Powell will shun talk of tapering bond purchases at a policy meeting this week.
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75% of retail CFD investors lose money
At 06:21 GMT, June U.S. Dollar Index futures are trading 90.700, down 0.139 or -0.15%.
The dollar index is also being pressured by further gains in the Euro. The single-currency rose to near a two-month high against the greenback before data later on Monday forecast to show an improvement in German business sentiment, which would bolster hopes for a brighter economic outlook.