US Dollar marches ahead of FOMC

The US dollar is marching forward on Tuesday with all eyes on upcoming Federal Reserves monetary policy meeting for any indications of a potential rate cut in September. Cooling inflation levels in June and rising unemployment levels are probably giving the Fed necessary conditions for a rate cut. The dollar index is trading firm around104.40 levels while US benchmark 10-year treasury yields liger around 4.18%. Moreover, major focus will be on non-farm payrolls this week. Among basket currencies, EURUSD and GBPUSD are quoting at $1.0849 and $1.2860 respectively.