The US dollar weakened against major currencies on Monday as investors became more optimistic about potential trade deals between the United States and other countries. This optimism increased expectations that the Federal Reserve will cut interest rates sooner, with markets now pricing in a 93.3% chance of a rate cut by September.
The dollar fell to multi-year lows against the euro, British pound, and Swiss franc after the White House made progress on trade negotiations with China and Canada.
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