Mubasher: The US dollar fell against a basket of other major currencies on Monday, with traders anticipating the developments in the Republican proposed tax reform plan and the confirmation hearing for Federal Reserve Governor Jerome Powell as the next chair.
The dollar index hit a nine-week low of 92.496 earlier in the session, and is now near 92.91 points.
Last week, the index fell nearly 1%, its third straight week of declines and worst weekly showing in more than two months, as reported by Reuters.
Concern about low inflation has boosted longer-dated debt and sent the US Treasury yield curve to its flattest levels in a decade.
