The dollar weakened as investors stayed cautious ahead of the Fed's July minutes. Recent US labor-market weakness and moderate inflation have led markets to scale back expectations for further rate hikes. Although Fed chair Kevin Warsh has avoided forward guidance, the minutes may offer clues on whether the Fed could tighten policy. The dollar index (DXY) fell about 0.2% to 99.472.

2026-08-19

The dollar weakened as investors stayed cautious ahead of the Fed's July minutes. Recent US labor-market weakness and moderate inflation have led markets to scale back expectations for further rate hikes. Although Fed chair Kevin Warsh has avoided forward guidance, the minutes may offer clues on whether the Fed could tighten policy. The dollar index (DXY) fell about 0.2% to 99.472.