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Fed officials hinted that after the recent interest rate cut, the US dollar expanded its fall.
[Fed officials hint at recent rate cuts as the dollar expands its fall] The dollar fell to a nine-day low against a currency basket, after Minneapolis Fed President Kashkari hinted that the Fed may soon resume rate cuts. San Francisco Fed President Daly also hinted on Monday that a rate cut could come soon. Last Friday's U.S. employment data was weaker than expected, boosting expectations for a rate cut by the Fed in September. LSEG data shows that the U.S. money market currently expects a 91% chance of a rate cut in September.