Dollar Weakness Lingers as Markets Bet on September Rate Cut

The U.S. dollar edged higher in early Asian trading on Monday, attempting to recover from a four-week low against the euro after Federal Reserve Chair Jerome Powell signaled a potential pivot toward rate cuts. The greenback gained 0.2% to $1.1699 per euro, though it remained near Friday’s trough of $1.1742, its weakest level since late July. Against sterling, the dollar added 0.1% to $1.3502 following a 0.8% slide in the previous session, while it rose 0.4% to 147.46 yen, clawing back part of Friday’s 1% drop. The risk-sensitive Australian…