The US Dollar is on the rebound this morning after falling around 0.8% yesterday – its biggest single-day drop since March on route to its lowest level in over two weeks.

The US Dollar begins the week modestly lower and back near the multi-week seen last week as traders await word from the Fed, along with the ECB and BoJ later this week.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, managed to stage a modest rebound in the late American session on Wednesday, although the Index ended up settling in negative territory, closing 0.35% lower.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.05% higher before losing its steam on Wednesday morning ahead of the Fed’s monetary policy decision.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.68% lower on Thursday and continues to extend losses this morning.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.04% lower.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.08% lower followed by regaining its momentum and moving higher on Friday morning on the back of strong inflation data.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.14% lower followed by entering a consolidation phase this morning and attempting to stabilize ahead of key CPI data release today

Over the weekend, the United States, the European Union, and other Western nations opted to impose limited penalties on Russia while also excluding some Russian financial institutions from participating in the global payment system, SWIFT.

For the majority of the day on Thursday, safe-haven flows dominated financial markets, and the U.S. Dollar Index (DXY) climbed to its highest level since June 2020, closing 0.89% higher yesterday before losing steam on Friday morning.